They may have launched another one of those man-made island things with a party costing over £10m this week, and construction of the tallest building in the world goes on - a kilometre high being the target - but finally there's evidence that the unreal bubble the country lives in may be pricked, if not burst.
The Dubai government has debts of £52 billion, and it's rising fast as investment continues at its breakneck pace. Two banks that are entwined with the booming property market have been recently bailed out by the overarching United Arab Emirates State. Amlak Finance and Tamweel have become the Emirates Development Bank. In effect Abu Dhabi has come to the rescue of its big-spending Dubai neighbours.
We could enjoy their discomfort, but things are nowhere near as bad as they are here, and any pain they have will be likely to affect us eventually too, via higher oil prices.
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