Nostalgia is no Answer for Progress
By Dr Mohammed Obaid Ghubash
Dr Mishary Abdullah El Nuaim, a Saudi university Professor, presented a study at the annual Gulf Development Forum in Bahrain, with an interesting title: The Impact of the Current Financial Crisis on Arab Gulf Cities, with Dubai as an example. The study states that the Dubai experience is not just bad for Dubai but also would have negative repercussions on other Gulf states which have ventured on a similar track.
Amidst the many articles critical of the Dubai experience, this one is the most significant as unlike other articles, published in newspapers or on the internet, which exaggerate the impact of the crisis on Dubai and which speak of cars left behind at Dubai airport by owners who fled the country because they were unable to pay their bills.
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