Wednesday, November 02, 2005

We are?

AMEinfo says, "Academic economists are flocking to Dubai to try to understand the reasons for this city-state's success."

But no where in the article is there any evidence given of where this flock of academics economists is, or who they are.

Second sentence of the article:
Clearly this [economic success] is down to more than a spate of high oil prices as other Middle East cities, with the exception of Doha, are not booming to the same extent.
Yet in the penultimate paragraph there's this admission that oil money is playing a role:
The genius of Sheikh Mohammed has been to launch an immense number of new development projects at a time when the region is undergoing an oil boom. This has meant that Dubai has scooped up the lion's share of investment in new projects, as well as prospering on the back of enhanced trade.
Still, I have to agree with the concluding sentence:
For the moment all roads lead to Dubai in the Middle East, and the commercial capital of the region is under construction.


Blogger sandsOfTime said...

I don't know. I have a hard time taking AMEINFO seriously when their entire business model is built around publishing other company press releases (Brilliant an idea as it may be).

4:56 PM  
Blogger EclectEcon said...

From everything I read, it looks as if Dubai in particular, and the UAE in general, have far more economic freedom than other mid-east oil countries. If so, that can go a long way toward explaining the growth in economic activity there.

7:53 AM  

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