Dubai - Globalization's First Ghost Town. There Will Be More.
The Dubai government represents the epicenter of some of the world's greatest incompetence this cycle. The available data is hazy but it appears Dubai might have gone bankrupt recently. But, since there is no transparency into the "kingdom", (do we still have kings in today's world? Oh, that's right. A timeless truth is that there are always people who would be kings if the world would let them.) we only know that Abu Dhabi has made a substantial financial infusion into the country.
Back in late 2006 or early 2007 we put up a video on here of Thailand nearly ten years after their financial crisis. And, the half finished skyscrapers rotting on their skyline. We wrote at the time that we should expect it could happen again. And, as we have written, the modern day Tower of Babel resides in Dubai. The end result probably won't be much different. There is substantial potential for Dubai to develop into a rotting skyline with an imploding population. (at the link)
By the way, I thought this comment at the story link was more than a little telling. And, quite appropriate. Not only for Dubai but as a more pervasive statement.
"Built on the sweat, blood n tears of Pakistani, Indian n Bangladeshi construction workers, this land of the rich treated us like mules n made us live in inhumane conditions for far too long. Allaah's justice is served. How the mighty have washed away in the very sweat, blood n tears of the meek." --Abdul Razaak, Karachi, Pakistan
Indeed Abdul, let this be a lesson to elitism. The meek shall inherit the earth.
Back in late 2006 or early 2007 we put up a video on here of Thailand nearly ten years after their financial crisis. And, the half finished skyscrapers rotting on their skyline. We wrote at the time that we should expect it could happen again. And, as we have written, the modern day Tower of Babel resides in Dubai. The end result probably won't be much different. There is substantial potential for Dubai to develop into a rotting skyline with an imploding population. (at the link)
By the way, I thought this comment at the story link was more than a little telling. And, quite appropriate. Not only for Dubai but as a more pervasive statement.
"Built on the sweat, blood n tears of Pakistani, Indian n Bangladeshi construction workers, this land of the rich treated us like mules n made us live in inhumane conditions for far too long. Allaah's justice is served. How the mighty have washed away in the very sweat, blood n tears of the meek." --Abdul Razaak, Karachi, Pakistan
Indeed Abdul, let this be a lesson to elitism. The meek shall inherit the earth.
<< Home