Friday, November 6, 2009

Dubai's Economy going down?


Dubai , one of the leading forces in the international finance , trading center and investments , that holds luxury hotels and resorts , has experienced the decline and turned from boom into bust due to the economic crisis that hit the world . Most of the companies in Dubai, that were a magnet for South Asian workers, were going bankrupt and Indian and Pakistani workers went out of work. Zafar Abbasi is a sample of the consequences of the crisis, he lost his job and now has no money at least to satisfy his physiological needs. He says :”No money for the foods [sic], everything is so expensive, medicine and rents,” . Most of the workers and builders of Dubai were foreign workers and now they’re forced to leave this city , but unfortunately many employees were stuck there because their passports are held.

References:
- Mandy, C. (2009, March 5). Global Economic Crisis Hits Dubai. Retrieved November 6 2009, from Voanews.com
http://www.voanews.com/english/archive/2009-03/2009-03-05-voa28.cfm?CFID=323724514&CFTOKEN=99797612&jsessionid=de3011ec45ccad831f33396c7a75b1d4e468

- Image retrieved from: http://www-scf.usc.edu/~ericsoli/DubaiLaborers.jpg

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