The Dubai crash was inevitable and is a warning to others

Given its enormous borrowings, Dubai World can now be called ‘Dubai Worried.

In Vinita Chacko’s Dubai: Dust to dust? (The Big Story, November 29), Dubai crashed because it was racing at a breakneck speed to build superfluous and monstrous buildings, with an eye on shattering world records. Dubai doesn't have Abu Dhabi’s oil wealth and was obsessed with the disastrous idea of ‘borrow and build’. Given its enormous borrowings, Dubai World can now be called ‘Dubai Worried. The Emirate’s crisis should warn others against excesses.

HT Image