Sunday, October 9, 2022

DUBAI's Global Downturn Is Starting !! -- UAE , Dubai 2020 Recession https://youtu.be/uPZLeusOYLo

DUBAI's Global Downturn Is Starting !! -- UAE , Dubai 2020 Recession https://youtu.be/uPZLeusOYLo

DUBAI's Global Downturn Is Starting !! -- UAE , Dubai 2020 Recession Sentiment soured further in the United Arab Emirates as a gauge of business conditions in the second-largest Gulf economy slumped to an eight-year low. In an echo of disputes that have roiled global trade, sales to foreign customers posted a “weaker upturn” and new orders stagnated in the U.A.E. in August, according to IHS Markit. Its Purchasing Managers’ Index dropped to 51.6 from 55.1 in July, declining for a third month and edging close to the threshold of 50 that separates contraction from growth. Fears of a global downturn are deepening as signs of a manufacturing slump have emerged from Europe to Asia. Domestic competitive pressures are compounding the outlook for the U.A.E., a federation of seven emirates that includes oil-rich Abu Dhabi and tourism and trade hub Dubai. Dubai, beautiful, full of potentials and the land of economic advances. Or was it a long time ago. Dubai's economy has been growing so little in the past decade that many believe it can’t be even called growth. Surveys show that the economy has seen a 1.94 percent growth in 2018 which was Dubai’s slowest pace since 2009 when the economy crashed due to a debt crisis. A big part of Dubai’s economy is focused on tourism and international business services. These two sectors have been hurt by a rough patch amid a fall in the real estate market. Experts say a weakening external backdrop, a strong US dollar and the ongoing correction in the property market are headwinds for a number of vital sectors. Property prices in Dubai have fallen by more than a quarter from their peak in 2014. It is expected that the prices fall 5 to 10 percent in the near future as a result of a continued gap between supply and demand. What happened in 2009 that still haunts the sheikdom? Collapsing property prices put Dubai in a debt crisis, so to tackle the situation, Dubai asked a 20 billion dollar bailout from oil-rich Abu Dhabi. After that, Dubai’s GDP grew at 4.8 percent in 2013 before starting to decline and the drop accelerated last year after the property sector slumped and the number of tourists stagnated. The UAE needs to attract 20 million tourists each year to make ends meet. But official figures indicate that in the past two years, the number of tourists stood at just under 16 million and in the first half of 2019, Dubai welcomed 8.3 million visitors. Standard and Poor's say the slowdown that started in 2014 is forecasted to carry on through 2022 due to low oil prices, fallout from the US-China trade war and political turmoil. These days Dubai faces high public debt amounting to around 124 billion dollars or 108 percent of gross domestic product. This debt is divided between the government and state-linked companies. The government has recently announced a series of initiatives to boost growth and S&P says it expects Dubai's economy to pick up to 2.4 percent this year, largely due to the completion of projects related to the international trade exhibition Expo 2020. But at the same time, it says the growth is unlikely to stay high since a trade war between China and the US is killing the economy across the world. Lower regional demand due to the US-imposed sanctions on neighboring Iran is another factor. It will have a negative impact on transit trade which is an important contributor to Dubai's economy. A slowdown in Dubai's economy since 2014 is forecast to carry on through 2022 due to low oil prices, fallout from the US-China trade war and political turmoil, Standard and Poor's said Tuesday. Growth in the Middle East's most diversified economy has also been impacted by a deterioration in the key real estate and tourism sectors, the international ratings agency said in a report. Dubai faces high public debt amounting to around $124 billion, or 108 percent of gross domestic product (GDP), divided between the government and state-linked companies, the report said. The emirate's GDP grew at just 1.94 percent last year, its lowest since 2010 when the city state was still recovering from the impact of the global financial crisis and defaulting on its debt. S&P said it expected Dubai's economy to pick up to 2.4 percent this year, largely due to the completion of projects related to the international trade exhibition Expo 2020 opening in October next year. After the Expo, growth will then moderate to 2 percent through 2022, it said. The trade war between the United States and China, and lower regional demand due to sanctions on neighboring Iran, are likely to slow transit trade, an important contributor to the Dubai economy, S&P said. Dubai's GDP grew at 4.8 percent in 2013 before starting to decline and the drop accelerated last year after the property sector slumped and the number of tourists stagnated. The city-state, one of seven sheikhdoms that make up the UAE, had expected to attract 20 million visitors annually by 2020 when it hosts the 6-month Expo. But in the past 2 years, the number of tourists stood at just under 16 million and in the first half of 2019, Dubai welcomed 8.3 million visitors, according to official figures. The property market, which contributes some seven percent to GDP, has been in a downturn since mid-2014, with sale and rent prices shedding a third of their values. Dubai ruler and UAE Prime Minister Sheikh Mohammed bin Rashed on Monday formed a committee to regulate the oversupplied real estate market. During the past year, the emirate has taken a raft of measures to boost the domestic economy and lure foreign investors by easing residency and business rules, including allowing full ownership of businesses by foreigners outside free trade zones. The emirate draws 70 percent of its revenues from fees on a host of transactions, some 24 percent from taxes and profits of government companies, and just 6 percent from oil.

The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more

Blog Archive

“Control oil and you control nations; control food and you control the people.” Henry Kissinger


once a standing army is established, in any country, the people lose their liberty.”
George Mason

“Military men are dumb, stupid animals to be used as pawns for foreign policy.”
Henry Kissinger

“If you are an ordinary person, then you can prepare yourself for war by moving to the countryside and building a farm, but you must take guns with you, as the hordes of starving will be roaming. Also, even though the elite will have their safe havens and specialist shelters, they must be just as careful during the war as the ordinary civilians, because their shelters can still be compromised.”
Henry Kissinger

"We don't let them have ideas. Why would we let them have guns?" Joseph Stalin

The people who cast the votes decide nothing. The people who count the votes decide everything.
Joseph Stalin

Governments keep a lot of secrets from their people . . .
Why aren't the people in return allowed to keep secrets
from the government?

PHILIP ZIMMERMAN, DER SPIEGEL

“Some call it Communism, I call it Judaism.”

Rabbi Stephen Weiss

“Anti-Communism is Anti-Semitism.”
Jewish Voice, July - August 1941

Taxing People is Punishing Success
UNKNOWN

There's the rich, the poor, and the tax payers...also known as the middle class. Robert Kiyosaki

The Tax you pay is The Bill for Staying Stupid

Stefan Molyneux


“The modern banking system manufactures money out of nothing. The process is, perhaps, the most astounding piece of sleight of hand that was ever invented. Banks can in fact inflate, mint and un-mint the modern ledger-entry currency.” Major L L B Angus

The few who understand the system will either be so interested in its profits or so dependent on its favours that there will be no opposition from that class, while on the other hand, the great body of the people mentally incapable of comprehending the tremendous advantage that capital derives from the system will bear its burdens without complaint and perhaps without even suspecting that the system is inimical to their interests.
The Rothschild Bros

"Debts must be collected, bonds and mortgages must be foreclosed as rapidly as possible. When, through a process of law, the common people lose their homes they will become more docile and more easily governed through the influence of the strong arm of government, applied by a central power of wealth under control of leading financiers.

This truth is well known among our principal men now engaged in forming an imperialism of Capital to govern the world.

By dividing the voters through the political party system, we can get them to expend their energies in fighting over questions of no importance. Thus by discreet action we can secure for ourselves what has been so well planned and so successfully accomplished."

USA Banker's Magazine, August 25 1924


Cutting Tax Rates stimulates Economic Growth creates more Profit , more Jobs and therefore The Treasury ends up with more Tax Money
UNKNOWN

Taxation is legalized Theft
UNKNOWN

"The Objective of the Bank is not the control of a conflict , it's the control of the debt that a conflict produces . The real value of a conflict , the true value is in the debt that it creates . You control the debt , you control everything . this is THE VERY ESSENCE OF THE BANKING INDUSTRY , to make us all , whether we be nations or individuals , SLAVES TO DEBT " An UNKNOWN Banker

Patriotism is the last refuge... to which the scoundrel clings .... Steal a little and they throw you in jail ..steal a lot and they make you king ....

Bob Dylan


"Corporations are stealing billions in tax breaks, while the confused, screwed citizenry turn on each other. International corporations have no national allegiance, they care only for profit." Robert Reich


There is NO political answer to a spiritual problem!
Steve Quayle


Po
litical Correctness is a Political Stand Point that does not allow Political Opposition , This is actually The Definition of Dictatorship
Gilad Atzmon

The modern definition of racist is someone who is winning an argument with a liberal
Peter Brimelow


When People lose everything and have nothing left to lose , They Lose It !

GERALD CELENTE

Your Greatest Teacher is Your Last Mistake
DAVID ICKE

The one who Controls the Education System , Controls Perception
UNKNOWN

"The world will not be destroyed by those who do evil, but by those who watch them without doing anything."

Albert Einstein

In The Left Nothing is Right & in The Right nothing is Left
UNKNOWN


No man escapes when freedom fails; The best men rot in filthy jails. And those that cried 'Appease! Appease!' Are hanged by those they tried to please
UNKNOWN

Freedom is not Free
UNKNOWN

Don't Steal The Government Hates The Competition

Ron Paul

"Buy The Rumor , Sell The Fact " Peter Schiff


You can love your Country and not your Government

Jesse Ventura


" The Government Works for ME , I do not answer to them They Answer to ME "
Glenn Beck

"Tyranny will Come to Your Door in a Uniform "
Alex Jones

"The Government is not The Solution to our Problems , The Government is The Problem "

Ronald Reagan


"The price good men pay for indifference to public affairs is to be ruled by evil men." Plato


The world is a tragedy to those that feel, and a comedy to those that think...Beppe Grillo

"The people should not fear the government for it is the government who should fear the people" UNKNOWN

"If You are looking for solutions to the world's problems , look in the Mirror , You Are The Solution , You have the power as a human being on this planet " UNKNOWN

"They don't control us , We empower them " UNKNOWN

"Serial Killers do on a Small Scale What Governments do on a large one..."

Serial Killer Richard Ramirez

There is a Class War going on in America, & unfortunately, my class is winning." Warren Buffet

"When the people fear their government, there is tyranny; when the government fears the people, there is liberty."

Thomas Jefferson

"College is a waste of Money"
Albert Einstein

Schools manufacture people who think that they're smart but they're not.
Robert Kiyosaki

Education is what you learn after you leave School
Robert Kiyosaki

" ‏Schools were designed to create employees for the big corporations."
Robert Kiyosaki


"If a law is unjust, a man is not only right to disobey, he is obligated to do so" Thomas Jefferson

Dissent is the highest form of patriotism
Thomas Jefferson

“True education makes you feel stupid. It makes you realize you have so much more to learn.” Robert Kiyosaki


"One day your life will flash before your eyes. Make sure it's worth watching." - Gerard Way

"Aspire not to have More but to be More "
UNKNOWN

The losers in life think they have all the answers. They can’t learn because they’re too busy telling everyone what they know.
Robert T. Kiyosaki ‏

"Failure is simply the opportunity to begin again. -This time more intelligently." Henry Ford

What You Own Owns You
UNKNOWN

If you expect the government to solve your problems, you have a problem. Robert Kiyosaki

"Those who give up their liberty for more security neither deserve liberty nor security." Benjamin Franklin

"None are more hopelessly enslaved than those who falsely believe they are free.” -
Johann Wolfgang von Goethe

"Always trust someone who is seeking the truth , never trust someone who found it" Jordan Maxwell

Be The Change you want to see in The World
UNKNOWN

Failure inspires winners but defeats losers
Robert Kiyosaki ‏

“If you are planning for a year, sow rice; if you are planning for a decade, plant trees; if you are planning for a lifetime, educate people” A Chinese Proverb

"First they came for the Socialists, and I did not speak out--
Because I was not a Socialist.

Then they came for the Trade Unionists, and I did not speak out--
Because I was not a Trade Unionist.
Then they came for the Jews, and I did not speak out--
Because I was not a Jew.
Then they came for me--and there was no one left to speak for me." UNKNOWN