Dubai charged into the first decade of the new century with Abu Dhabi following at a more measured pace. Despite the global credit crisis, the two are well placed to face the challenges of the new decade. Frank Kane reports.
Sheikh Mohammed bin Rashid, Vice President of the UAE and Ruler of Dubai, told an audience of business leaders and government officials in early 2007 that the car he was driving had five gears, “all of them fast forward, with no reverse”.
It was a good metaphor for the financial sector of Dubai, and of the wider UAE, in the first decade of the millennium.
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