Meanwhile, food retail chains based in France, the UK and US are set for a global battle. The big supermarkets - Tesco, Carrefour and Wal-Mart - have recognised that as home growth slows, they must establish a presence in the emerging markets. And the way in which they do this will be a lesson into how to operate abroad successfully. Currently, it seems that Tesco has found the smoothest way to cross borders - by joint venture agreements.
The small desert state of Dubai has undergone an amazing transformation, thanks largely to the planning and vision of the ruling family, now led by Sheikh Mohammed bin Rashid Al Maktoum. He compares his role to that of a CEO and is driving a staggering economic and property boom. Having recognised that it could not depend on its oil reserves alone, the rulers have taken advantage of Dubai's location - midway between Europe, Asia and Africa - to turn it into a hub to rival Singapore.