The United Arab Emirates is one of the greatest success stories in emerging markets. In 41 years its population has moved from Third World poverty to per capita income well in excess of the most advanced nations. Today it is the developed nations that struggle and fail to keep up.
Thankfully this success has never gone to the head of the UAE rulers. They realize that they struck on a winning formula in creating their federation in 1971 and have largely stuck to it over the years.
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