We’re aware that you’ve a lot of questions about what could happen next in Dubai and what it’ll mean for the world’s economy. We’ll have a number of experts ready to give you some answers. Please post your queries here.
How do you expect to build a future on a finite resource?
What allowances did you make for price fluctuations when deciding to get loans?
Assuming you were able to manage your debt, what specifically, would have been the basis for your economy after or beyond oil?
How were you going to sustain a workforce and talent pool made almost exclusively of foreign nationals?
Are the sheiks good, educated entrepreneurs, or just rich guys with big dreams?
Can you apply the same standards as for western top manager?
I do have a question : What is the influence of foreign labour on the overall financial situation in Dubai ?! And by the way, I am actually a huge fan of Dubai and I do deeply believe that Dubai will recover from this unfortunate setback and rise up and shine again, Inshallah… With my love… Yours forever, Lubna in Baghdad….
1- Whose main responsibility is it the current financial crisis in Dubai, is it the Dubai government or the foreign financial advisers to it?
2-What lesson can be learnt from Dubai financial crisis when it comes to the huge desire to achieve the most in the shortest time?
3- As of 1998, 17% of the population of the emirate was made up of UAE nationals. Approximately 85% of the expatriate population (and 71% of the emirate’s total population) was Asian, chiefly Indian (51%), Pakistani (15%), Bangladeshi (10%) and others (10%). ( http://en.wikipedia.org/wiki/Demographics_of_Dubai )
Is it economically sound to build an economy depending largely on foreign workers now counting approximately 250,000 while the nationals don’t do any hard work?
4- Don’t investors have any sense of guilt when the grandiose projects are built by foreign workers mostly South Asian, working for less than US$10 a day on real estate development projects such as the Dubai Marina?
5- Can Dubai manage its economy without foreign economic experts and labourers?
Has the government of Dubai exploited foreign workers? Have their grievances been redressed? How have the human rights of foreign workers been respected fully?There have been so many complaints against government officials.
The banks should not be helped. Reasons: 1) The Sheikh writes off millions of dollars worth of debt each year. He can afford it. 2) The banks have been badly managed and continue to be so. 3) The banks make big money in the M.E. and continue to pay large bonuses despite the recession. 4) The banks have been highly unethical in the past 20 years, e.g. allowing you up to 20 times your salary. 5) They and are now targetting low income Asian workers at 30% interest. Let the banks make a loss. Perhaps it will teach them more compassion when dealing with their customers.
Dubai = characterless architecture + indentured labour.
The fact that the Sub Prime crisis has happened [despite the existence of regulatory agencies (chock full of experts of every shape and size) whose very job it was to prevent such events my questions are:
Why are so called experts needed to answer ANY questions? (They existed before the crisis and exist now but their effect on prevention was Nil!)
Is it not time for the layman to provide the answers?
When the global economy continues to be in the state of fragility and jittery, anything goes.
Could a flap of butterfly wings from any corner trigger yet another onslaught of financial crisis of greater yet more threatening magnitude?
Have the criminal gangs – both official and unofficial types – been cleaned out by Interpol? Are the top gangsters being sent to ICC or the Hague for civil rights violations and crimes against humanity and war crimes?
[Dubai Arabs have other emirates to help if not greedy Saudis and greedier Kuwaitis. All that glitters is not gold. The Dubai was propped up by bollywood type gangs too criminally greedy luring the gullible and innocent suckers of the world into their plot of duping the successful people of their wealth.
Besides being a sin city with unIslamic structures and workers with no civil rights or basic human rights where passports are seized, wages are not paid for many months, condos are sold to suckers of the world, where Islamic mobsters of the Arab and non-Arab world gather and plot their next slaughter on Indian soil, Dubai has been the crime capital of the world perhaps of the 9-11 plot as well.
Such a crime den needs no help but severe punishment]
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