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Rich sovereign rulers from Arab states are perfect targets for grand project hustles. You need to convince only one very rich man that he is a visionary and
by Nokinside 8y ago
Rich sovereign rulers from Arab states are perfect targets for grand project hustles. You need to convince only one very rich man that he is a visionary and that the idea you sell to him is his. If McKinsey provides $10,000 per page PowerPoint and pdf, it's all good to go.
Dubai did many things right to lure in business and traffic. Dubai's DIFC Courts (independent English language common law judiciary) [1] were a really good idea for example. Still the Dubai as a business is not sustainable. Of course you attract business and traffic if you subsidize it with lavish infrastructure, low bureaucracy and no regard for human rights.
Dubai is oil and gas subsidized business hub. The vision is to build something that lasts when the gas runs out, but there is no evidence that this enterprise will ever be sustainable. It's build on the sand both literally and figuratively.
[1]: DIFC Court is for business. The civil law in the Dubai is medieval.