Dubai is unable to repay its debts

Someone posted a blog about the speech made by Mr. Lee Kuan Yew concerning Dubai. It is reported here.

Dubai is now facing difficult in repaying its large borrowings that were used to develop its visionary facilities.

I first went to Dubai in 2006 and was also impressed with the bold and visionary steps that were taken to develop Dubai. Few could have foreseen the collapse of the global economy at that time. I did not.

Tan Kin Lian