Changes

==Recent==

==Recent==

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.

==External links==  

==External links==  

* [http://www.time.com/time/magazine/article/0,9171,1945354,00.html#ixzz0aAQhvLQZ ''Time'' magazine]

* [http://www.time.com/time/magazine/article/0,9171,1945354,00.html#ixzz0aAQhvLQZ ''Time'' magazine]

==Further reading==

==Further reading==

* Davidson, Christopher M. "Arab Nationalism and British Opposition in Dubai, 1920-66," ''Middle Eastern Studies'' 2007 43(6): 879-892, in [[EBSCO]]

* Davidson, Christopher M. "Arab Nationalism and British Opposition in Dubai, 1920-66," ''Middle Eastern Studies'' 2007 43(6): 879-892, in [[EBSCO]]

* Hvidt, Martin. "Public-Private Ties and Their Contribution to Development: the Case of Dubai," ''Middle Eastern Studies'' 2007 43(4): 557-577, in [[EBSCO]]

* Hvidt, Martin. "Public-Private Ties and Their Contribution to Development: the Case of Dubai," ''Middle Eastern Studies'' 2007 43(4): 557-577, in [[EBSCO]]

==References==

==References==

<references/>

<references/>

[[Category:Asian Cities and Towns]]

[[Category:Asian Cities and Towns]]

[[Category:Middle Eastern Countries]]

[[Category:Middle Eastern Countries]]