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Friday, November 27, 2009

Dubai crisis?What impact will this have on the global economy?

Concern over Dubai’s debt problems has driven down Europe’s share markets for the second day running. What impact will this have on the global economy?

Earlier, the state-owned Dubai World announced that it would delay repaying some of its debt.

The biggest underlying fear is that Dubai's problems could reignite the financial turmoil of the credit crisis, lowering global demand for a whole range of commodities, including oil.

The Gulf state, which has less oil money than many of its neighbours, has grown to rely on trading and tourism.

Has development in Dubai been too swift? Will Dubai manage to keep afloat? Could this reignite the financial turmoil? Have you invested or are you working in Dubai? Have you been affected?

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