Rank: Veteran Joined: 7/5/2010 Posts: 2,061 Location: Nairobi
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digitek1 wrote:quicksand wrote:Once the oil dries up....then the Middle East will find out the true meaning of being irrelevant. The Middle East will have nothing to bring to the table. No oil, no industry, no agriculture, no human resource expertise. And then US, and with it Europe, will summarily stop giving a shit.
The UAE foresaw this long ago..right now their economy depends on tourism and trade as they wean off oil Slightly inaccurate. They have done better than the rest of UAE by diversifying. By Wikipedia, 85% of UAE exports is oil. Remember the vast infrastructure and housing projects? Many have collapsed, the rest have slowed ..and you cannot discount how much of that was financed by oil Quote: Although UAE has the most diversified economy in the GCC, the UAE's economy remains extremely reliant on oil. With the exception of Dubai, most of the UAE is dependent on oil revenues. Petroleum and natural gas continue to play a central role in the economy, especially in Abu Dhabi. More than 85% of the UAE's economy was based on the oil exports in 2009.
https://en.wikipedia.org...ki/United_Arab_Emirates
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