"London was once the favourite haunt of runaway politicians and assorted conmen of the third world, including west-sponsored Pinochet-type dictators. But not anymore. The gulf state of Dubai has snatched this privilege from the land of strawberries.
Because of its proximity to their countries, the sheikhdom suits these fugitives as they try to stay ahead of the laws of their land. Many politicians and bureaucrats own luxury apartments and villas in Dubai, which serves as a retreat to cool their heels and scheme for the future.
Dubai raked in huge investments from around the world by those who wanted to make a quick buck. People bought luxury apartments and villas on instalments, with the view that when rented out these properties would pay for their instalments. What really happened? Dubai’s economy – based on sandy foundations – soon began to shrivel."
'via Blog this'
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