3 ms·
How are they going to 'switch over to some other industry'? They can't just turn on the scientist brigade the way you turn on an oil well.
by ambicapter 11y ago
How are they going to 'switch over to some other industry'? They can't just turn on the scientist brigade the way you turn on an oil well.
- norea-armozel 11y agoThat's why I'm asking. Are they planning ahead or just playing financial chicken?
- simonh 11y agoThey've all been sinking money into sovereign wealth funds, and Dubai has been spending big on expanding it's airlines, promoting its airport as a global hub and developing a tourist industry. They're attempting to diversify their economies but whether or not any of that turns out to be sustainable without massive subsidies from oil profits is dubious.