View of part of the Fujairah Corniche and the Hajar Mountains in the Background

Saturday, January 3, 2009

American CBS Network Declares Dubai Has Gone Bust

A New Year story on America’s CBS evening news looks at the downturn in Dubai, especially in the property market and building industry.

The article and video is full of hyperbolic statements such as, ‘Once Booming Dubai Goes Bust.’

Judging by the comments on the site, it seems that this is another of the ‘riches to rage’ stories that international viewers and readers love to see.

To see and read the report: Once Booming Dubai Goes Bust, CBS, 2 January 2009.

Dr Geoff Pound

Image: Villas on Jumeira Palm Island, Dubai, United Arab Emirates. (Photo courtesy of CBS News Photographic Essay)