Dubai Financial Crisis

[anie_b]

Will the recent Dubai financial crisis affect the stock markets across the world?

[Xanthia Alysha]

Dubai borrowed and spent as if they, rather than Abu Dhabi, was the source of all the oil wealth in the UAE.

In theory, Dubai was building the new tourist Mecca for the worlds wealthy and elite to come spend and play. In fact, they borrowed far beyond any rational expectation of short term or long term return.

[GLD2010]

It all came down to property. So property related and banking shares may be affected. I think the impact has already occurred. Good job for Abu Dhabi.