Wednesday, December 2, 2009

Financial tsunami was warned in Dubai

As I had expected during my eight-day trip to Dubai last month, the economy of Dubai might collapse.

Yes, of course, the emeers would always denied it.

Dubai has concentrated a lot on property investments. There are too many building than the owners. Even a small house keeps changing hands. Why? price is hiking up. Banks on the other hand loaning the purchases. What would happen if the price half drops? All links will be affected...banks, investors...

During my trip, I heard from our businessmen, dissatisfaction for not having paid for almost a year. Why? Think yourselves, this never happens before.

For more read

though they are denying

or the Dubai crisis will affect others as well

or watch

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