Before making business around the world shocked by the news failed to pay the debt last week, Dubai had always fascinating way to grow. In 1991, Dubai was a desert and almost empty. Ten years later, Dubai was transformed into one of the fastest growing city in the world. Person behind the rapid development was the late Sheikh Rashid bin Said al Maktoum, the father of Sheikh Mohamkmed bin Rashid al Maktoum which is now leading Dubai. Sheikh Rashid reckless borrowing millions of dollars from its neighbor, Kuwait, to dredge the river mouth of Dubai wide enough and deep for the ship sailed.
Dubai is designed with a very luxurious, stylish Manhattan, has a world-class port, and shopping centers are colossal and most importantly the best interest of outsiders is, free customs. Population of Dubai has a population of 99 percent of Islamic religion, while the remaining 1 percent of the remainder is non-Muslim tourists. The city is the only city that receives Israeli citizens to do business there. Dubai receives foreign tourists without knowing their race, religion, or language. Women dressed in bikinis and a burqa can coexist in Dubai.
On average each year not less than 6 million foreign tourists visit one of 7 states that United Arab Emirates. Whereas broad range of Dubai only 4114 km2 with a population of no more than 1.5 million people. That is, the majority of the urban population from 100 countries across the world.
Dubai pain symptoms actually had read since last year. Deutsche Bank had calculated, on the Dubai property prices had dropped by 50 percent year; aluminum because of the global crisis. At first, this year, Dubai is panting a loan from the central bank of Abu Dhabi, the emirate neighbors, worth USD 10 billion. Sheikh Mohammed immediately down lobbying ruling emir of Abu Dhabi. Will Sheikh Mohammed as smart as his father, turn sand into forest magnificent building? or just the opposite?
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