A Traveller's Tale: Dubai's Financial Mirage

Nick Hood was shocked by Dubai's complacency. Now its chickens are coming home to roost, he says.

Last Updated: 31 Aug 2010

News of Dubai’s descent from the heights of financial stardom to the ignominy of potential sovereign default provoked a vivid sense of déjà vu, and a losing battle against the urge to shout 'I told you so' from the top of the Burj Dubai Tower. Almost exactly a year ago, this inveterate traveller had left the UAE’s new miracle financial centre deeply frustrated after a week of meetings with local professionals, whose heads were buried so deep in the sands of denial that any meaningful conversation was impossible. The sense of unease and unreality started on day one of the trip, with the startling realization that... [CLICK HERE TO READ MORE AND COMMENT]   

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A Traveller's Tale: Dubai's Financial Mirage

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