America's power, Dubai's dream

David Frum Not everybody loses from Dubai’s default. Sharp-eyed investors will scoop up Dubai’s investment properties at prices lower than Dubai paid. And clear-headed thinkers can learn some important lessons about our 21st century world. Through the Bush years especially, Dubai represented prime evidence of America’s supposedly looming decline. It was building the world’s tallest tower! It was buying American port facilities! It was emerging as the world’s leading banking centre! Much of this talk was obviously foolish. Tower boasting especially reminded one of that old Soviet-era joke: “Our Russian computers are the biggest in the world!” When the world’s ... Leer más