Credit-crisis clouds passing over U.A.E.
November 27th, 2008
“Indeed, Mohammed Alabbar, chairman of Emaar Properties, at the World Economic Forum meeting in Dubai in early November, pooh-poohed the idea that the emirate’s economy would take a hit. Dubai, he said, is not all about real estate. People who think otherwise, he said, “miss the mountain for the hill.” He then enumerated the reasons that Dubai and by extension Abu Dhabi would continue to grow: “re-exports and trading, tourism and retail; transportation and logistics; manufacturing; the free zones and the business hubs for IT, media, financial service, education and health care.”
Does Dubai still think it can avoid the credit crunch ?
HI
EVERY BODY KNOWS THAT THE REALITY IS SO MUCH MORE WREST THAN ONLY A SHORT TERM PROBLEM.
THE REALITY IS THAT WE ARE FACING SOME MULTIDIMENSIONAL CREDIT CRISIS WHICH IS CLOSED AS AN END LESS CYCLE.
THERE IS NO DUBT THAT THIS CRISIS IS THE RESULT OF CAPITALISM AND IT IS WELL APPROVED THAT IF WE WANT TO REPEAT THE SAME ECONOMIC MODEL WE WILL FACE THE SAME PROBLEM AGAIN AFTER THAT.
TO BE MORE PRECISE WE HAVE IDEA LOGIC CRISIS RATHER THAN SOME ECONOMIC PROBLEM.
AND THAT IS WAY YOU CAN SEE CLEARLY THAT DESPITE ALL IF MONSTER CASH INJECTIONS BY BIG COUNTRIES TO THIS ECONOMIC SYSTEM NOT ONLY PEOPLE DID NOT RETAIN THEIR LOOSED TRUST BUT ALSO THEY HAVE FOUND IT THAT THEY ARE NOT ALONE IN THEIR DECISION AND ALL OVER THE WORLD PEOPLE HAVE LOST THEIR TRUST ON SUCH ECONOMIC SYSTEM SO , I THINK INSTEAD OF TRYING TO PERTAINING THAT THE WE ARE FACING A SHORT TERM PROBLEM IS BETTER THAT WE CONFESS THAT WE RAE FACING THE BIGGEST IDEOLOGICAL AND IDEOECOMONIC CRISIS OF THE NEW CENTURY.
THANKS