In the past few months, observers have focused on the UAE, and Dubai in particular, to gauge the impact of the global financial crisis.
This attention is a result of the fact that the UAE has achieved in the past decade a unique development experiment. Dubai's economy has been diversified. Oil now contributes only 5 per cent of the gross domestic product (GDP).
While some were very nervous while waiting to find out the effects of the global financial crisis, Dubai was tackling the repercussions of the crisis with great patience and wisdom.
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