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Wednesday, December 2, 2009

The Ascent, and Fall, of Dubai

The Ascent, and Fall, of Dubai - Economix Blog - NYTimes.com: "Great cities have long been built by great gamblers, and Dubai’s sheik may well be the second greatest city-builder — after the Chinese government — of our age. Many of those gamblers have ended up bankrupt, but their structural legacies remain, providing the space that connects humanity and facilitates the success of our urban world.

Even if Dubai’s real estate prices continue to drop, which is certainly quite possible, there will remain a strong incentive to fill its buildings. If the structures remain occupied, then Dubai, and its sheik’s dream of a great metropolis, will survive."

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