Post-banking crisis, the world has generally divided fairly neatly into two camps with their clear economic narratives. On one hand there are the Western economies burdened by slow growth and creaking public finances. On the other, are emerging powers in Asia, Latin America and Africa – which have mostly surged ahead while Europe staggered.
Where the Middle East fits into this picture, however, remains undecided. As one of the most touted legal markets during the boom, the region’s resource-rich economy was driven by surging commodity prices, high inward investment and the growing status of Dubai as an international hub.
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