Global Economic Watch International Finance November 27, 2009

UAE https://www.cia.gov/library/publications/the-world-factbook/geos/ae.html

UAE The UAE has an open economy with a high per capita income and a sizable annual trade surplus. Successful efforts at economic diversification have reduced the portion of GDP based on oil and gas output to 25%. Since the discovery of oil in the UAE more than 30 years ago, the UAE has undergone a profound transformation from an impoverished region of small desert principalities to a modern state with a high standard of living. https://www.cia.gov/library/publications/the-world-factbook/geos/ae.html

Dubai https://www.cia.gov/library/publications/the-world-factbook/geos/ae.html

Dubai World Dubai World is Dubai's flag bearer in global investments. As a holding company it operates a highly diversified spectrum of industrial segments and plays a major role in the emirate's rapid economic growth.  https://www.cia.gov/library/publications/the-world-factbook/geos/ae.html

Emerging Markets Although there's little direct exposure to Dubai World's default risk, U.S. financial institutions could take major indirect hits. http://www.dubaiworld.ae/en/Index.html

Discussion Why Dubai World asked creditors for delayed repayments? Why emerging markets fell in response to the Dubai World news? Why is capital flight harmful to the economy?