Dubai’s Impact on the World Market

As many of you know, I have the privilege of teaching in Fuqua’s Cross Continent MBA Program. In designing the program we wanted to embed the students in the regions that were shaping the global business landscape for the 21st Century.

Just a few weeks ago our CCMBA students students were in Dubai where they got to hear, first hand, about Dubai’s 2015 Strategy and how it needed to be adjusted due to the recent financial crisis and the role that Dubai World plays in the region.

For those of you thinking that what is happening “over there” in Dubai will not impact us here in the US, I urge you to take another look at Fuqua’s “While You Were Sleeping Video.”

I think it is fair to say that, given their recent experience in Dubai, our CCMBA students are really getting a first hand look at how business is being redefined in the 21st Century.

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  1. Yes, we are certainly learning some interesting lessons, attending Fuqua at this period in history!

    Many of us weren’t alive to see stagflation, or gas shortage lines. But we are now witness to a major financial crisis in the U.S., 10%+ unemployment and…Dubai.

    For me, one of the most interesting lessons I learned from Dubai is the culture of secrecy in the Middle East, or more broadly, that you don’t broadcast your problems outside “the family”. Whether it’s your biological family, or a business “family”, everything is great in public.

    Even when we asked about the debt directly, several times, we must’ve read an incorrect article, misheard the story, or if it was true, we were putting too much emphasis on the negative. “If something *did* happen in regards to the debt, what are they going to do, pick up and move the buildings?”

    That was quite the cavalier attitude from the speaker, and then the full impact of the debt problem hit less than two weeks later.


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