Economic lessons from the Gulf States

Yeah - being lucky is incredibly rewarding. They'd still be fucking their camels for fun if they didn't have such huge oil reserves sitting under their land.

>>1778442
You been shilling this shit all week.

What is the best economic lesson to learn from Dubai and the gulf states?

1. Immigrant workers are not people and dont have subsequent rights.

2. Dont let the jew in.

>>1778448
The United States has massive reserves of natural resources. Is there a reason why we can't have nice infrastructure like they do?

Also, countries like Singapore and Hong Kong don't have natural resources, but exploit their strategic positions and services industry for their benefit. Could this happen in the West like it did in 1600s Europe, or in areas like Panama, where they have easily one of the most strategic shipping lanes in the world?

>>1778462
The natural resources per population is way higher than in the US. The gov't therefore has enough money to pay out bribes to each citizen to NOT overthrow the status quo.

Dubai is impressive, don't get me wrong, but they are scrambling to come up with the next big tech thing so that they have a way of keeping the money flowing after the oil runs out/becomes replaced with new tech.

>>1778462
city states can be more dynamic and flexible, surfers riding the waves of economic fortune, whereas countries and landmasses that get eroded by the tide.

>>1778467
I've read into their societies since I'm generally interested in the economic structure of the Middle East and you're definitely right. I'm not sure about the UAE, Kuwait, or Qatar, but definitely in the case of Saudi Arabia, the welfare state seems to be keeping everyone down. If they cut their generous entitlements, the House of Saud will be Iranian Shahs 2.0.

>>1778474
So is there anything that we can do about it? Perhaps direct investment into cities to build places like Dubai?

Back in the day, Jack Kemp proposed creating special enterprise zones that would have relaxed regulations and lower taxes to direct private sector investments into areas like Detroit to promote economic development.

>>1778442
have oil, and dont be $20,000,000,000,000

>>1778442
I lived in Saudi Arabia for about 10 years and visited other Gulf states. Saudi focused mainly on oil and gas but has failed to diversify and is now suffering. Dubai took a hint and is trying to make tourism its main export. Also loans are not considered good (Islam forbids interest) so those countries tend to avoid credit bubbles and are fairly immune to such economic crashes because alternative Islamic banking.

If anything, take the lesson that interest is BAD. It is a risk multiplier. No such thing as responsible borrowing either since humans are incapable of true responsibility due to our greedy and self preserving nature. Just look at bloody Ontario in Canada. It's third largest expense is interest payments.

>b...but interest is tax deductible!
>interest is risk compensation!
>How else would lenders make money?

Memes the lot of them. Equity is best. Sure it slows down development but is more secure.

in debt

>>1778493
Why did you move to Saudi Arabia? Was it for work?

>>1778442
huh? are you even serious? they just hit the jackpot by being on top of the best oil reserves. these monkeys were still living in caves 50 years ago and still would be if we didn't set up refineries for them and let them form OPEC.

>>1778506
Venezuela has large oil reserves. I know that Venezuelan oil shale is much more costly to develop, but is there any reason why they're a basket case while the Middle East isn't, even though both have state-owned energy sectors with cartel pricing?

>>1778485
London
NYC
Paris
LA
Toronto
Sydney
Tokyo
Singapore
Hong Kong
already are city states comparable to dubai in many aspects. The fact that they are already so advanced make them stagnant, not the other way around. Tourism/airline hubs/finance/architecture+realestate/specific industries like films or start ups/tax or political havens.


Dubai is TINY and had large oil ressources to start the process. They grew immensly because oil meant free money from the ground which got invested wisely into infrastructure, turned itself into a tax haven to attract capital and qualified finance professional got into the tourism industry as a failsafe option.

Th reason the airline is so successful right now is that nobody wanted to fly there before they transformed themselves. After a few decades they will be done with expanding hubs in NAm, asia/europe/oceania/southAm and africa. Then what? By that time the other airlines will compete with them on the ultra luxury segment, and the pressure of the competition added to the impossibility to expand further because the number of cities you can fly into with a jumbo jet is in fact a finite number means they will enter the cost reduction game like everyone else and by that time china and india will have reserved those brand new hubs for their own airlines making the new airlines to fly in etc...


Emirates is literally where Pan Am was in the 60s. You can't think their success is because they are inherently better. They just started to grow. So it's easier.
Look at more mature "miracle economies" like japan. Everyone thought Japan was going to grow forever. They slowly but surely hit their demographic limit, ate their speculative bubble in the 90s and started to face the geopolitical realities of being an ambitious power in decline with no army an powerful rivals like china or dangerous ones like North K.

>>1778511
Socialism

File: 1454285644158.jpg (3MB, 3600x2400px) Image search: [Google]

3MB, 3600x2400px

JUST WATCH THE FIRST 10 SECONDS OF THESE VIDEOS, WHAT THE FUCK HOW DO THEY GET SO MUCH, fml

https://youtu.be/2CZ-v3h9EuQ

https://youtu.be/JFCjeWui2ss

https://youtu.be/CrpdBC8dUS4

>>1778462
>Is there a reason why we can't have nice infrastructure like they do?
Because we don't need to. After oil, Dubai is going to need tourism to survive. No one wants to visit a shithole in the desert, so they invested enough money in infrastructure to get people to want to come.

>>1778604
>No one wants to visit a shithole in the desert
i do


>>1778604
>Because we don't need to
actually, yea i want better living standards