Is Dubai 'The Comeback Kid'?
Law360, New York (February 14, 2012, 1:44 PM EST) -- The bigger they come, the harder they fall — and there was certainly no escaping the schadenfreude when Dubai fell victim to its grandiose ambition in 2009: “The dunes will reclaim the soaring folly of Dubai,” wrote the U.K. commentator Simon Jenkins, summoning the vision of a ghostly glassy ruin in the desert. If other predictions were less apocalyptic, most took a gloomy line depicting a vainglorious emirate in terminal decline — in debt, both emotionally and financially, to its stern, oil-rich neighbor Abu Dhabi....
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