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Freedom Blossoms in the Desert
by Doug Casey
Dubai is, and will remain, the most successful city in world history because it is, in most ways, the freest. FINALLY, Dubai has made news! And now everyone will know about this amazing place. In recent years the governments of the UAE have sought to diversify its sources of income and lessen its dependence on finite oil reserves. One result of these efforts is a steadily developing tourism industry, centered on coastal, desert and sporting resorts and infrastructure.

The Dubai economy is total capitalism, peace, and freedom. And they don't hate democracy or Western culture or Western Civilization or America. Dubai is probably the freest place on earth. Dubai was unique in the Middle East. They didn't have as much oil as most of their neighboring countries, but they were smart. They planned for the future. They knew they could be successful if they opened up their society and their economy. There are free-trade zones and there are low taxes. They have free markets, they respect capitalism, they don't shun the West -- they welcome the West.

Custom built islands, the world's only 7-star hotel, and some of the best restaurants and theme parks. Soon they will finish the world's tallest building, abutting what will be the world's largest shopping center.

The national airline, Emirates, is probably the best in the world. The country is 100% desert yet they built a huge area adding extra beachfront shoreline, plus thousands of homes, and about 40 new luxury hotels. It's one of the world's greatest engineering projects. It's called "The Palm." A second Palm is under construction, and a third -- which will be about the size of Paris -- is planned. The scale of all this is mind-boggling.

Most spectacular of all is The World, a complex of 300 artificial islands to be built 5 km out in the gulf, resembling a map of the world. The islands range from about two to ten acres apiece, and they're all pre-sold, the cheapest at $23 million. You buy your island, and you can do whatever you wish on it or with it.

But what's more important is that as leaders of other countries -- especially small, poor ones -- visit the place, they will increasingly see that they have no alternative but to emulate it. Dubai has truly let the cat out of the bag. There's no doubt in my mind that in the next ten years, Dubai look-a-likes will spring up around the world like variations on a theme. For most countries, it's either imitate Dubai, or become a petting zoo for those who do.

posted by Hal 9:30 PM