COMMENT It is hardly surprising that even the brashest of boom towns is vulnerable in a financial crisis now tipping into a recession. But it did come as a bit of a surprise to Dubai.
It is, admittedly, a paradox that liquidity should be an issue in a region awash in surplus cash. But modern Dubai, and its sister city-emirates of the western shore of the Gulf, are the inventions of globalisation. How could it be otherwise?
