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==Recent==
==Recent==
[[Link title]]
The world [[Financial Crisis of 2008]] has left Dubai staggering. Many very expensive luxury investments around the world went sour, often losing 50% to 90% of their value; real estate prices dropped 50% and new construction ended. Dubai is hard pressed to repay its debts but Sheik Mohammed has downplayed the rising debt, which some estimate to be more than 100% of GDP. Despite a $15 billion bailout from neighboring [[Abu Dhabi]] (which has oil) i late 2009, the crisis continues to mount.
The world [[Financial Crisis of 2008]] has left Dubai staggering. Many very expensive luxury investments around the world went sour, often losing 50% to 90% of their value; real estate prices dropped 50% and new construction ended. Dubai is hard pressed to repay its debts but Sheik Mohammed has downplayed the rising debt, which some estimate to be more than 100% of GDP. Despite a $15 billion bailout from neighboring [[Abu Dhabi]] (which has oil) i late 2009, the crisis continues to mount.
[[File:Dubai, Palm Jumeirah, Landscape, 2014.jpg|thumb|center|400px|Palm Jumeirah, Landscape, 2014.]]
{{Clear}}
==External links==
==External links==