Word: oil
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...question remains, if the central bank in Abu Dhabi decides it no longer wants to help out its construction-crazed, oil-bereft dependent, what assets would Dubai be able to offer up to the foreign banks who are owed billions? (Read about the Dubai debacle and the world financial crisis...
...rivals and cynical pundits will revel in Sheik Mohammed's fall from grace, but none can deny Dubai's remarkable accomplishments - or ignore the fact that only an ambitious dreamer could have made them happen. In the 1980s, when Dubai's neighbors were either hibernating behind a curtain of oil wealth or dabbling, sometimes disastrously, in Middle East politics, Sheik Mohammed began transforming oil-poor Dubai from an Arab backwater into a global city. Within a decade Dubai had a world-class air carrier in Emirates Airlines and a glamorous, iconic "seven-star" hotel, the Burj al-Arab, as high...
...lifeline out of the crisis, Sheik Mohammed will certainly look again to Abu Dhabi, whose vast oil deposits make it by far the richest U.A.E. entity. It stepped up with $10 billion in support immediately after the global crash in 2008 and can be expected to do so once more; Abu Dhabi's ruling al-Nahyan family, as cautious as the al-Maktoums are daring, knows that it, too, will be dragged back by the demise of Dubai. A glance at the $600 billion-plus balance sheet of Abu Dhabi's sovereign wealth fund puts Dubai's debt crisis...
...beyond. Indonesia alone has a dozen or more REDD projects. "It's this new fad - everyone needs to have one," says Linkie. "It's good that governors from other provinces are [saying], 'Must have a REDD project' rather than 'Let's log it all and convert it into oil palm.'" In partnership with the Australian investment bank Macquarie Group, FFI has six other REDD schemes: three in Indonesia and others in Cambodia, Ecuador and Liberia. Last month, governors Irwandi and Schwarzenegger joined 30 other subnational leaders - including a dozen other U.S. governors and the leaders of forest-rich Brazilian states...
Chicken Parts and Tires But the same Americans who speak darkly of the China effect routinely seek out the least expensive cell phones, televisions and clothing and demand that companies whose stocks they invest in show double-digit profit growth. Procter & Gamble needs the supercharged gains of its Oil of Olay brand in China to remain compelling to investors. The Otis Elevator Co., a unit of United Technologies, makes great elevators, but it's China that's erecting thousands of skyscrapers. And the same Chinese who snap up copies of China Is Not Happy seek business deals with American companies...