According to Jim Rogers, Dubai built it's economy based on real estate speculation. Dubai doesn't have anything else, it didn't have oil, natural resources, the population is small and there was huge real estate speculation in construction. Dubai has no financial reserves also.
On the other hand, China has huge amounts of natural resources, growing population, natural resources in Siberia which they can tap and they have huge financial reserves.
The only thing that Dubai has is a rich big brother, but that’s all Dubai has and China has it all - resources, cheap labor, discipline, educated labor and vast markets. - in Businessinsider
Jim Rogers is an great investor, author and respected financial commentator. He is a regular guest on different TV programs like these of Barron's, FT, Wall Street Journal, New York Times, Fortune and CNBC. Rogers is the president of Rogers Holdings and Beeland Interests.
