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Abu Dhabi, though, is in a similar monetary situation and yet it has prospered. While it has its blemishes and extravagance, it has turned its primarily-oil GDP
by hammerdr 16y ago
Abu Dhabi, though, is in a similar monetary situation and yet it has prospered. While it has its blemishes and extravagance, it has turned its primarily-oil GDP into a well structure economy. It has diversified significantly. Instead of spending $2b on a race track, Abu Dhabi spent $700m on a solar plant.
I would liken the current status of the West as more aligned with Abu Dhabi. Dubai is something that could happen if our eyes get bigger than our stomachs.