http://www.moneyhoneyblog.com/dubai-debt-crisis-fallout/ There Is Nothing To Fear From Truth Wed, 21 Dec 2011 06:16:13 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://www.moneyhoneyblog.com/dubai-debt-crisis-fallout/comment-page-1/#comment-6 Petra Sat, 12 Dec 2009 04:20:02 +0000 http://www.moneyhoneyblog.com/?p=78#comment-6 HM, thanks for your comment. I agree that Dubai will continue to offer many benefits to international businesses and investors. However, the goal of being one of the world's top financial centres (along with NYC, London, HK and perhaps Singapore) has been overly ambitious in my opinion. The pace of Dubai's real estate and tourism development has also been very steep, likely more that there was demand for. Of course this is not something too unusual per se. There will be many more bubbles and subsequent collapses in the future (as there were in the past), and that doesn't just apply to the West but also the Middle East and all emerging markets. HM, thanks for your comment. I agree that Dubai will continue to offer many benefits to international businesses and investors. However, the goal of being one of the world’s top financial centres (along with NYC, London, HK and perhaps Singapore) has been overly ambitious in my opinion. The pace of Dubai’s real estate and tourism development has also been very steep, likely more that there was demand for. Of course this is not something too unusual per se. There will be many more bubbles and subsequent collapses in the future (as there were in the past), and that doesn’t just apply to the West but also the Middle East and all emerging markets.

]]> http://www.moneyhoneyblog.com/dubai-debt-crisis-fallout/comment-page-1/#comment-3 HM Thu, 10 Dec 2009 00:17:52 +0000 http://www.moneyhoneyblog.com/?p=78#comment-3 Petra, Nice comment, I understand the law in Dubai says that it is a criminal offence to bounce a cheque, a criminal offence that can lead to imprisonment. History shows that those states where the law makers believe they are above the law are less enduring than those that the law makers are under the law. This will be an interesting one to watch as I understand a lot of transactions within the Dubai Business District have elected to be under English law. Although Dubai's Real estate uber-boom and subsequent collapse is fun for westerners to talk about, shifting focus from their own economic dependency on property values, Dubai has made some intelligent Infrastructure Investments in Ports etc and Jebel Ali Free Zone, JAFZA, is a fast growing economic zone based on tax competition whose fast pace of growth is based on attracting profitable multinationals who choose to pay less tax, this has not slowed in the world recession and seems to have a long way to go. HM Petra,
Nice comment, I understand the law in Dubai says that it is a criminal offence to bounce a cheque, a criminal offence that can lead to imprisonment.
History shows that those states where the law makers believe they are above the law are less enduring than those that the law makers are under the law. This will be an interesting one to watch as I understand a lot of transactions within the Dubai Business District have elected to be under English law.
Although Dubai’s Real estate uber-boom and subsequent collapse is fun for westerners to talk about, shifting focus from their own economic dependency on property values, Dubai has made some intelligent Infrastructure Investments in Ports etc and Jebel Ali Free Zone, JAFZA, is a fast growing economic zone based on tax competition whose fast pace of growth is based on attracting profitable multinationals who choose to pay less tax, this has not slowed in the world recession and seems to have a long way to go.
HM

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