Saturday, November 05, 2005

Capital flight will cause irreparable damage :: Iran News

Capital flight has become talk of the town since the coming to power of the new president in June. There have been several reports indicating huge capital flight cases in recent months. Resources taken out of the country by major business owners are usually invested in housing and industrial projects in regional countries, especially the tiny Persian Gulf sheikhdom of Dubai. . . .
Iranians have reportedly invested $200 bln in Dubai, United Arab Emirates, over the past few years.
There's a gulf, and it's Persian, and it has something to do with liquidity - but it's not water. Visit Tehran, buy a carpet and the dealer will ask you to pay his cousin in America.



Blogger The Devil's Advocate said...

God, I hope Iran's economy comes crashing to a standstill. Maybe then the people will wake up and smell the 21st century.

4:02 AM  

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