Discussion in 'Economics' started by kxvid, Aug 26, 2009.
"His trouble began two years ago, just as the economy was beginning to show signs of strain.
Since then property prices have plummeted, unemployment has risen and so have the arrests of expatriates in what, some suspect, is an effort to make foreigners pay for Dubai's downturn. "
I am not surprised one bit by this.
A veneer of friendliness towards westerners has been based upon the premise of exploitative greed (get their money). So when things turn sour the knives come out, literally.
Sadly, this is a simple manifestation of the primitive cruelty and xenophobia that is all too common in the Arab world. Only the naive might be shocked by it...
I turned down overtures to invest in Dubai for exactly this reason. They can't be trusted.
Stupid people go to Dubai . wtf would you want to do there !
Fucking floating island , this place exudes bad taste .
Now, even China is publicly admitting its own citizens and investors are way too bullish on prospects, going so far as to initiate curbs on all sorts of economic activity.
Link? The reason I ask is because I can't seem to fathom why the government would want to do this... Curbing economic activity? Why does the Chinese government care if people are too bullish on the economy?
It was headline news this morning, even on CNBC (they were speaking on air about how Chinese officials are tempering expectations that Chinese consumers are going to lead the globe out of recession):
Chinese Premier Wen Jiabao talked at great length about Chinese concerns of a credit bubble and export declines two days ago:
Wen Says China to Keep Policies as Recovery Uncertain (Update2)
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By Sophie Leung
Aug. 24 (Bloomberg) -- Chinese Premier Wen Jiabao said the government will maintain its fiscal and monetary policies as the economic recovery isnât stable yet and faces many âuncertainties.â
Authorities canât be âblindlyâ optimistic as a âdecline in external demand may continue for a longer timeâ and excess production capacity may restrain industrial growth, Wen was quoted as saying on the governmentâs official Web site today.
China has yet to cement a recovery as factories have too much capacity and exports are weakening, officials said this month. China is using a 4 trillion yuan ($586 billion) government stimulus plan to help revive growth. The central bank scrapped lending quotas in November and has kept interest rates at a four-year low, triggering an explosion in credit...
Too many people talking about China pulling the entire world economy out of this downturn
ITS NOT GOING TO HAPPEN!!!!!!
The guy was French, what did they expect? He probably went on strike on day 2. He was on US$13k a month driving a lamborghini living in a rent free huge villa and the two tourist submarines he ordered from his own company in the US never turned up in the cargo but his wife's US car did instead.
Now he tries to get into every paper in the world trying to sell his book because his reputation as a marine engineer is fecked.
I would have threatened to put needles up his nose if I'd employed him too.
I hear one side of the story and zero violins Here it is in a Dubai paper
Don't let Asiaprop read that post - he goes ape when anyone says anything even remotely negative towards the country.
All is fine there, no problem, blue skies for ever
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