DUBAI

Ambition fruitful Crisis 

 



If there is blame for the crisis that currently wrapping Dubai, accusations will be directed to the ruler, Sheikh Mohammed bin Rashid al-Maktum. Wah ambition to transform the city into a modern desert like western assist the crisis to match the seed.

Trust themselves and Mohammed's ambition to place Dubai the same place with the London and New York. Artificial island, the buildings sparkling skyscrapers nan, international schools, multinational enterprises, and luxury hotels springing up in Dubai.
All it offers young professionals with a job and Arab lifestyles not be found in Beirut or Cairo. however, do not ask on the foundation of what it was built. Apparently, not oil, but other people's money and their number is many.
"In the past, rulers (Dubai) reliable financial problems because everyone thought oil would support it. From this moment on will be different", said Simon Henderson, an expert on energy and the Gulf of Washington Institute for Near East Policy.
Dubai is one of the seven emirates that make up the United Arab Emirates (UAE). Although the UAE capital, Abu Dhabi, has abundant oil, is not the case with Dubai with little oil.
With the marketing skills, Mohammed managed to lure former politicians, oil tycoons, and executives who are willing to participate in Dubai's real estate sector are fantastic. Professionals from Europe and Asia are willing to pay the villa and condominium development even before the start. Thanks to the guarantee, investors poured billions of dollars to Dubai.
Tradition
Like Dubai's own appearance, Mohammed hold on as the root of the Arab tradition to pursue his ambition to modernity. It seems appropriate mixture with personality and governing style Mohammed. She was screaming camels and horses known to be highly admired. Countless times he spurred his horse in the desert or the Mercedes driving along the smooth highways in Dubai. Mohammed still hear complaints from citizens in the diwan or reseps space, but also regularly update my profile on Facebook and Twitter to communicate with young children Dubai.
Unfortunately, when the debt crisis struck by Dubai World, the government-owned company for 60 billion U.S. dollars, Mohammed and his government refused to intervene. As more and more obvious signs that Dubai becomes a victim of the world economic crisis, Mohammed denied and no recovery plan.
"It would be difficult for Sheikh Mohammed to survive the (crisis) this one," said Christopher Davidson, an expert on the Gulf at Durham University, UK.
Davison said that Mohammed has made investors mistaking that he had a lot of money to support his plan.
Sheikh Mohammed began to retreat from the spotlight, When he appeared recently, he blamed the media exaggerate the problem. He also called the market reaction is due to their lack of understanding about what really happened in Dubai.
Dubai now has no choice to wait a helping hand of Abu Dhabi and hope creditors agree to debt restructuring (REUTERS).