So what does the insolvency of a Middle Eastern city have to do with you?(Dubai; $47 bil. debt against a $37 bil. GDP)
Well... nothing, if you live under a rock.
There have been reports speculating of the demise of the big gamble in Dubai since late last year.But Dubai isn't the United Arab Emirates.
Dubai only has to borrow money from it's neighbor, Abu Dhabi, to keep the dream of the oasis in the Arabian Desert afloat.
But with some (former) American companies being valued at more than the city itself - doesn't it make more sense for these companies to devalue the land they occupy?Why did Halliburton move it's headquarters from Houston to Dubai?
DIFC was set up to facilitate the flow of lightly regulated funds through offshore accounts.
Dubai Ports World raised a stink in the US when it attempted to take control of many of the country's shipping ports.With speculation that the money men behind the recent piracy in the Middle East were based in Dubai - what point is there in ruling the ports when one can just rule the seas?
Is there any surprise that Blackwater moved it's headquarters to Dubai?
Our relationship with this tiny city may be closer than we think.
Is there any surprise that Blackwater moved it's headquarters to Dubai?
Our relationship with this tiny city may be closer than we think.
4 comments:
Thanks for the heads up.
Well the UAE will step up according to overseas stock futures. They believe it's a lot more than they are letting on. But, haven't we learned anything from this recession that they are slowly letting the air out of the balloon. Each time they say everything is alright then someone else collapses.
It ain't over, how about 2012 before we see any real stability.
There are too many components associated with the War Machine in Dubai for my liking.
If these companies are worth more than their landlords - wouldn't it make sense for them to become the new landlords?
(Of course this is just speculation - but from where I sit, it doesn't look good.)
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