Dubai has about 1.2 million people as of 2005, the $59 billion debt carried
by Dubai World amounts to about $50 K per person, that would be equal
to $15 trillion of debt for the USA. Why would the UAE government put
the debt of this magnitude onto its balance sheet?
Many properties they own may have negative value due to maintanence and demolition cost. This is certainly true for many mold-infested condos in Florida.
