Dubai Debt Crisis – Is It An Isolated Problem?
The Dubai debt crisis is once again a reminder of fragility of the global credit market and also how what may seem like an isolated problem can have far reaching tenticles.
Dubai is part of the United Arab Emerate. The capital is Abu Dhabi. Although one would think it would garner its wealth from oil, its economy is driven by tourism, real estate and financial services. According to Wikipedia the economies wealth from oil is only about 6%. Real Estate and construction contributed … [visit site to read more]
