Saturday, October 4, 2008

The financial crisis in Dubai?

I choose to read this article because the title was significant. We all have heard about the power of this little country with its strong economy and finance. 
For me, the actual financial worl crisis is not very clear or maybe not very real. I have heard about a "crash" for a long time. Maybe one year ago, or more, in France, every medias liked to write about it, warning the politicians, economists, consumers and companies. but no one moved or try to make something helpful to solve this potential crisis.
Today, it sounds more close, because even Dubai, the "untouchable" is touched.
Big building projects of hotel complex or skycrapers are cancelled. Everybody is afraid about the crisis even the richest people in the world.
But what will happen next if even one of the most powerful place is touched?


nguyen said...

I thought the same as you too. Dubai is one of the richest city in the world. However, i think that they waste a lot of money to show or announce their economy power than invest in some worthy project. Back to your article, i think that with the term "financial crisis", nothing or nowhere is untouchable. It's just about sooner or later.

Alyssa R. said...

I'm also not so sure that there are any "untouchable" countries / people / cities in this financial mess. And I wonder about nguyen's comment about Dubai just being a showy city - I tend to agree.

It seems like markets are bound to have ups and downs - but this seems worse since we're in such a globalized society.