November 25, 2009, the small city-state of Dubai rocked financial markets across the world, when Dubai World holding company announced that it would ask its creditors to a stop of its debts. After three decades of phenomenal growth, something has gone off the rails with the model of Dubai. What caused the trouble? If it was just a temporary setback or a sign that the city-state needs to change its business model? Dubai can maintain their independence from Abu Dhabi from the bailout? And if the current model of the emirate was not sustainable, how exactly should it be changed? This case examines these issues in light of the Great Recession, the geopolitical context and the history of Dubai. "Hide
by Noel Maurer Source: Harvard Business School 16 pages. Publication Date: March 10, 2010. Prod. #: 710061-PDF-ENG
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