Early reports that Dubai World — the investment vehicle for the United Arab Emirates — might suspend repaying part of its debt made global markets nervous. Dubai likely borrowed too much to finance a real estate boom, which is going bust. There’s been speculation that Abu Dhabi might step in to help restore confidence. Jim Krane, author of City of Gold: Dubai and the Dream of Capitalism, talks to Renee Montange about Dubai’s financial troubles.
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Will Abu Dhabi Come To Dubai’s Aid?
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