Date: 2024-12-21 Page is: DBtxt003.php txt00021619 | |||||||||
DUBAI
THE MOST MODERN CITY Youtube video ... Piers Morgan telling the story of Dubai in 2015 Burgess COMMENTARY The development of Dubai is a very interesting case study with many important lessons possible. So far few lessons seem to have been learned that are foundational for the building of a better world ... rather the Dubai experience seems to be accelerating many of the undesirable trends of the modern socio-enviro-economic system. I have not worked in Dubai, but I did some consulting work in Kuwait during the 1980s as well as some work in Saudi Arabia. I worked in the region fairly early on in the post OPEC oil shock new world order, but already the wealth that was accumulating in the oil exporting countries of the region was massive. This is not surprising when one understands that crude oil from the region was profitable when the international price for the product was $3.50 a barrel and by 1979 the price reached $30.00 a barrel. In 1980, the globally averaged prices 'spiked' to US$107.27!!!! ... but settled back to around $20.00 a barrel for the 1990s ... before becoming extremely volatile with the events of 9/11 in the USA and the subsequent US led conflicts in Afghanistan and Iraq. The big question needs to be how well has the new financial wealth been used? Who have gotten benefit from this accumulation of wealth and who have lost out. In the Middle East where most of the population is Muslim and men rule, it is a few men in a few families that are the main beneficiaries. That is not to say that the ordinary people do not have more money, but the wealth differentials are huge. Most of the 'work' is done by foreigners. When I was in Kuwait it was clear that there was a hierarchy
This video has not changed my conclusions very much!!!!! Peter Burgess | |||||||||