Dubai’s financial difficulties do not lead to new crisis

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Dubai’s financial difficulties do not lead to new crisis

Bài gửi by MrJohn on Fri Jan 22, 2010 8:33 am



Above is the Review of the
analysts of the event Dubai World thirst for nearly 60 billion debt.
Domino effect in the Gulf will not happen because other countries like
Saudi Arabia, Abou Dhabi and Qatar are not credit problems as Dubai.
Abou Dhabi will save Dubai.


The Dubai last Wednesday
(25/11) requesting to delay the payment of tens of billions US dollars
has made shocks globally, in the context of the world economy just get
up from the financial crisis.

Yesterday, the stock
markets continues to worry about the risk of Dubai’s bankruptcy, but
with different levels of response. Markets in Europe and the
United States do not fall into panic, while Asian markets slip down the
slope.

By Thursday’s close on
Thanksgiving, yesterday, the market for Wall Street impact of events in
Dubai, with the Dow Jones index lost 1.48% points. But yesterday, in the
Paris market, CAC 40 index, after the 3.41% drop Thursday, had regained
1.15% points and other markets of Europe also increased again.

This is because investors
now realize that the banks actually not affected by the financial
difficulties of Dubai. Meanwhile, the entire
stock market decline in Asia are very strong, but that is because the
story out of Dubai, investors still concerned about the consequences of
increasing the yen so strong against the dollar .

Fewer profit from oil,
but Dubai spend tens of billions USD to build all of the record-breaking
real estate world. Dubai for a long time was the world admires. But now it is called
“Debt Country”.

Dubai’s total debt to 80
billion dollars, of which 59 billion is the debt of the group Dubai
World, which this country was asking for six months to delay payment. Dubai risk reminds
everyone’s memory to the collapse of U.S. bank Lehman Brothers in the
autumn of last year.

Lehman Brothers scenario
data can be recurring? Most analysts do not
believe that. In their opinion, the
financial difficulties of Dubai will not lead to a new crisis.

First, it will not happen
in the Gulf domino effect because other countries like Saudi Arabia,
Abou Dhabi and Qatar are not credit problems as Dubai. Moreover, Abou Dhabi will
not neglect its neighbors, which will be launched to save money to
Dubai.

Regarding the damage to
the bank’s largest international is currently unknown how much, but it
sure is only a few dozen billion dollars, primarily damage to the Gulf
Bank, which involved many the Dubai World projects.

This amount is not
absorbed into the comparison with thousands of billions of dollars that
banks in Europe and America have to suffer as a result of the credit
crisis and subprime real estate financial crisis in 2008.

While most analysts but
not really worried, but proved cautious, wait and see situation progress
to where.

According to them, Dubai
events remind people that the health of the global financial has not yet
returned to normal. In this context, the
political leadership is the effort to reassure the world that the
economy has been steady enough to support the risks similar with
bankruptcy risk of Dubai.

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