Dubai

Dubai Economic Crisis The causes of economic crisis: -Dubai world have heavily in real estate, including large projects like, The Palm, the world biggest manmade island, and Burj Dubai, which is the t tot each(prenominal)yest building on earth. Which all these projects have attracted investors all around the world. -Lots of investors putting huge amount of money and made a lot of gain in real estate industry. Bubble was puddled by the wastefulness money into the business and eventually, the bubble burst. -Other factors like the economic crisis that make investors pull out their money from Dubai. Also the change magnitude in oil price last year, which has decreased the income. The set up of economic crisis: -Dubai has lower down the investor confidential. The reason is that there is theory for Dubai to default on Banks. -The economic crisis in Dubai might create trouble for banks around the world. There is a $30 jillion debt belong to banks in United Kingdom. If the investors and Dubai decided to default on the banks, the banks will have to take another hit after(prenominal) the credit crisis earlier this year.

-Due to the lower investing money, some projects have to be stop or slow down, as a result many player got set take away from their job. For example, Shalu, a 33 years old Indian worker have paid $1000 to an agency in replace to work as a construction in Dubai. It was a three years contract; however, he got laid aside within a year. The company said that they have laid off more than 250 workers. As a result, he was in trouble finding a place to stay. He proximo stated that he has been sending money back to his married woman and son in India and now trying to collect all his money for another agency for another job in Saudi Arabia. If you want to get a full essay, place it on our website: Ordercustompaper.com

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