Tuesday, August 23, 2005

Monumental mistakes?

I wish I had the leeway to write stuff like this for publication.

Palm before a storm?

Palm Jumeirah has become synonymous with the triumphalist expansion programme that is Dubai. But stuffing the palms like sardine tins, which may or not bear up to the traffic, is surely a questionable move. Nakheel did not respond to efforts by The Daily Telegraph to discuss concerns raised about this project. However, let us hope that, unlike the Colossus of Rhodes, one of the seven wonders of the ancient world, this self-declared eighth wonder of the contemporary one doesn't end up at the bottom of the ocean.

Via The Emirates Economist

It strikes me that the UAE govt is increasingly running the risk of getting caught out by its hubris.

Granted, members of hte ruling families - the Minister of Education, Sheikh Nahyan, being a sterling example - seem bright, on the ball, and to know what needs to be done.

And it's not as if, as a group, they are unwilling to listen to reason: vid. the way that the Central Bank, on the recommendation of the IMF, has issued treasury bills to soak up some of the liquidity that is making the Abu Dhabi and Dubai financial markets go crazy.

But they are only human, and humans are fallible, and some mistakes may well have been made. Given the incredible scale of the work going on and the blistering pace of change, the ramifications of those mistakes seem to be materialising more rapidly than it is possible to fix them.

That said, I don't believe that any of these mistakes is fatal - nor, though I worry, do I think that they are all fatal even when taken in the aggregate. But I think there's going to be a period of some difficulty before things are finally resolved. If it's any consolation, by the end of it the government will have learned how best
to deal with problems.


Blogger Bing said...

I wish I had the leeway to write stuff like this for publication.
I'm rather curious as to who you are. Obviously, you're hiding behind a pseudonym for a reason. But how much can you tell your readership about yourself? Are you a journalist? Are you based in the UAE?

28/8/05 15:34  
Blogger waterboy said...

I am indeed a journalist, that much I'm happy to say openly, but beyond that I'm afraid I have to be vague.

28/8/05 19:38  
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