1. Global Economic Watch
International Finance
November 27, 2009

2. UAE

3. 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.

4. Dubai

5. 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. 

6. Emerging Markets
Although there's little direct exposure to Dubai World's default risk, U.S. financial institutions could take major indirect hits.

7. 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?