Like the sands of Arabia, the movement of money has shifted, and those economies considered too slow (Saudi Arabia), too conservative (Abu Dhabi), too risky (Lebanon) or too small to be a player (Qatar) are now destinations for the region’s capital. Dubai, once the flagship of the Gulf Cooperation Council’s prosperity, is nursing a bruised ego and considering its options. What’s the moral of the tale? That steady-Eddies are the best bet? That the tortoise eventually beats the hare? That Saudi Arabia was the perfect example of a state exercising leadership and intervention when crisis hit? Well, it’s not quite as simple as that, and maybe the answers can still be found among the skyscrapers of Dubai, where businesses, or should we say the business community, is still struggling to adapt its strategies to the new reality. Essentially, human nature is risk averse and there is a reluctance in Dubai
