NPR logo

Podcast: Eye On Dubai

  • Download
  • <iframe src="https://www.npr.org/player/embed/114420678/127421876" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
Podcast: Eye On Dubai

Podcast

Podcast: Eye On Dubai

How many snowdomes does one gulf state need? Chris Jackson/Getty Images hide caption

toggle caption
Chris Jackson/Getty Images

How many snowdomes does one gulf state need?

Chris Jackson/Getty Images

Podcast: Eye On Dubai

  • Download
  • <iframe src="https://www.npr.org/player/embed/114420678/127421876" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">

On today's Planet Money:

The announcement earlier this week, that Dubai World, a company owned by the government of Dubai, was hoping to delay payment on $26 billion in debt sent stock markets across the world plummeting. Analysts were watching to see if investors would pull out of banks and investment firms with exposure in the Middle East or flee risky markets altogether.

By now, fears of Dubai's credit crisis spreading outside the country appear to have abated, but questions about Dubai remain, like, "what in the world were they thinking?" Dr. Christian Koch of the Gulf Research Center, says Dubai has a good economic strategy, but things got too crazy, too quickly. To Jane Meikle, a Canadian who has spent the last four years living in Dubai, sure the place went a little crazy, but that's part of what makes it so great. She talks about the upside of life in a gulf state boom town, where everyone is from somewhere else.

Download the podcast; or subscribe. Music: Weezer's "Island In The Sun." Find us: Twitter/ Facebook/ Flickr.

NPR thanks our sponsors