Anyone who genuinely thought that Dubai was a solid long-term investment deserves to lose out. It was always going to collapse, we just didn’t know that action in Iran would be the cause.
Dubai is a country that produces nothing but petroleum. The only reason the royal family is rich is because of cars. There is nothing else made there. There is no other trade. The world is moving towards renewables, which means that you should expect it to slowly disintegrate.
Dubai’s economy centres on trade, tourism, aviation, financial services, and real estate.[12][16] The Dubai International Financial Centre (DIFC) is one of the world’s major financial centres. In 2024, Dubai was the seventh most-visited city globally.[17] Dubai International Airport (DXB) is the world’s busiest airport for international passenger traffic, handling over 92 million passengers in 2024.
I thought McKesson was going to string Saudi Arabia along for years with “The Line” until the country collapsed. Oil based economies are in their final decades
I do think that this is the case. It also means that that the Texas oil barons will have to move into something new. This will be better for humans and the planet.
Anyone who genuinely thought that Dubai was a solid long-term investment deserves to lose out. It was always going to collapse, we just didn’t know that action in Iran would be the cause.
Why? Should’t Dubai be able to continue being a trade hub?
Dubai is a country that produces nothing but petroleum. The only reason the royal family is rich is because of cars. There is nothing else made there. There is no other trade. The world is moving towards renewables, which means that you should expect it to slowly disintegrate.
Dubai doesn’t have oil. They have been a trade hub and they can continue trading.
UAE exports oil. Dubai is part of UAE.
https://en.wikipedia.org/wiki/Dubai
What changes if the oil is gone? The money will remain.
I thought McKesson was going to string Saudi Arabia along for years with “The Line” until the country collapsed. Oil based economies are in their final decades
I do think that this is the case. It also means that that the Texas oil barons will have to move into something new. This will be better for humans and the planet.