One of the few interesting things about Dubai is that it serves as a barometer for economic activity that happens largely outside of government and outside of OEDC.
I’m not talking blood diamonds or drug money, Dubai services a region that extends thousands of miles in all directions and the only thing that happens there that doesn’t happen elsewhere and is “illegal” in many of the places it services, is economic freedom. What’s interesting is that you can measure the pulse the global free-market by measuring the pulse of Dubai.
Although apart from counting cars on the freeway it’s not easy to understand what’s going on. For example in 2007 the GDP for 2006 was reported by the Dubai Municipality to be $46 billion, and yes I did check, I’m looking at a hard-copy right now; but there is no explanation I saw for how come mysteriously that got upwardly revised to $65 billion (i.e. + 40%). The latest number is for 2008…$93 billion; and there are no numbers for 2009 or 2010.
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