Thursday, October 09, 2008


Et si même Dubaï était touché ? c'est en tout cas l'une des hypothèses émise par le NYT dans un papier titré Boomtown Feels Effects of a Global Crisis


(...) DUBAI, United Arab Emirates — On the surface, this glittering Arabian boomtown seems immune to the financial crisis plaguing the global economy. The skyline still bristles with cranes — an estimated 20 percent of the world’s total — and the papers are full of ads promoting spectacular new building projects. (...)

(...) But as recession looms in the West, cracks are appearing in the oil-fueled boom that has made Dubai, with its futuristic skyscrapers on the turquoise waters of the Persian Gulf, a global byword for unfettered growth. (...)

(...) Until recently, credit in Dubai was growing by 49 percent a year, according to the Emirates’ Central Bank — a rate almost double that of bank deposits’ growth. That unnerved some bankers here, who felt it could lead to a collapse. (...)

(...) At worst, if the global economy worsened and some Dubai banks failed, there would be a firm crutch to lean on. In the early 1980s, after several Dubai banks stumbled, the government rescued them and relaunched them as the Emirates Bank International. In the early 1990s, two more banks were rescued. At that time, of course, Dubai was far smaller. The repercussions of such a government bailout today would be far more damaging to Dubai’s image as the epicenter of Persian Gulf development."

Ou quand les excès de l'ultra-libéralisme menacent la ville de l'ultra-libéralisme.

Et pour aller plus loin et mieux imaginer ce que cela peut vouloir dire pour Dubaï, voir et .