Sunday, November 29, 2009

Dubai's Default

For those following Dubai's default, the Emirates Economist blog is likely to have interesting links.

The New York Times reports that the UAE's central bank (i.e. Abu Dhabi, the more conservative and richer emirate to Dubai's west) will loan money to Dubai's banks to cover its postions. The crisis brings up a number of issues, including whether Dubai's business model is viable, the relationship between Abu Dhabi and the rest of the emirates, and the struggle for control and independence between the emirates. If you look back through Emirates Economist's archive, you will find plenty of discussion and pointers to books, articles, and other material on the Emirates.