Friday, June 27, 2008

The Financial Fiefdom of the Future

Arguably the most modern metropolis being built in the world, Dubai has the distinction of being referred to as the "City of the Future". The bold initiatives undertaken by the United Arab Emirates cannot merely be regarded as a fancy for modern structures nor a penchant for expensive technological wizardry, but a predetermined vision and a calculated objective that will raise the former Bedouin tribes of the Arabian desert to the top of the global economy's center of power. The City's pace of development and base of business is positioned to wrest the dominance and influence from New York City as the financial capital of the world.

Its recent unveiling of a Dynamic Architecture concept has attracted attention and interest all over the globe, where the biggest and most profitable companies on the planet can be enticed to relocate. If the concept is successfully executed, it will herald Dubai's technological leadership in construction, the forceful driving force behind economic growth. It will also make the city the first established site where modern construction technology was applied, obtained from a Florence based architect, David Fisher; ironically, the same place where the Renaissance originated which benefited the west, but now supports the Middle East.

The "future of architecture" is being built in the city of the future. The brick-on-brick method used for 4,000 years will be obsolete, and this pre-fabricated, independently rotating-floors edifice of 80 stories, will have environmentally cleaner methods that use a third of the manpower for these types of buildings; and will produce more than its required energy from an alternative source. This structure, and others like it that would follow after its completion in 2010, will make New York City look "Old World". Museums, sports arenas, cultural venues, transportation and communications, can all be built in a planned city that was in the drawing boards since the late 70's. With its flooding subways, bursting sewer pipes, decrepit buildings and bridges, that need several years and billions of dollars to put in shape for current use, New York would seem third world in comparison to Dubai, which has engineered the city for a vision 50 years hence.

Apart from the physical appearance of modernity and old world charm, the success of the Emirates in shifting the global base of trade and commerce to Dubai would have far reaching political and economic implications. Those holding the purse hold the power, and the shift in economic power from New York to Dubai will mean a transfer of power from the Jews to the Arabs. Policies regarding the State of Israel and the State of Palestine would be impacted severely. Interest rates will be higher for the US and business growth and development would be affected. Political divisions in America may grow deeper and wider owing to the Israeli concerns, and governance may be more difficult than it already is.

As the world looks in awe at the Dynamic Architecture concept in Dubai, it should also critically examine the seemimgly isolated and independent moves being created and initiated all over the world that is concerned with Middle East relations, Policies on the Gaza Strip, Global Investments, Foreign Debts, Military Deployment and Weapons Development, Global Trade and Commerce Agreements, Currency Movements, Technological Development and Applications, Genetically Modified Organisms in Food, Pharmaceutical Drugs, Disease Prevention, among others. All these areas and more, and what is currently started in each, will play a significant role in balancing or preventing this shift in power. If conflict arises, these will be used in ways unrelated to anything humanitarian, as history has proven.

Before mankind even blinks after a first glance at this marvelous structure, it should look behind itself, and guard its rear at any man-made catastrophe that may be engendered by those who cannot accept that power has changed hands.



Jenaisle said...

Excellent and very well written post. Your sentence by sentence revelation, had kept me at the edge of my chair.

Dubai would be saying therefore, make way America, here I come!!!

SheR. said...

Dubai with all its riches are luring the highest skilled people from all over the world. I was tempted once to make my way there. But hey.. when I consider its location.. I said No.

First what puts me off is the typical Middle Eastern mentality of how women are belittled.

Then it's the weather.

And like you mentioned.. the Middle Eastern mentality on a lot of issues.

r said...

If you haven't seen it already, I recommend taking a look at the book 'America Alone: the end of the world as we know it' by Mark Steyn. He's a bit extreme and even insulting at times, but he does have some valid points and alludes to the power shift in ways that parallel your post.

durano lawayan a.k.a. brad spit said...

Hi Jena Isle,

America in general, and New York in particular, is in a state of disrepair. The country's budget deficit, and its current economic slump, will make it more difficult for them to get up to par. On the other hand, Dubai keeps building for the future.

Certain sectors in America will not let go easy, and, as we make posts, counter moves are being planned and initiated - at times even using aid funds to plant the seeds of these schemes.

Dubai need not make any announcements as America sees this trend. Unfortunately for them, they can't do much at the moment to prevent its march towards this direction. :-) --Durano, done!

durano lawayan a.k.a. brad spit said...

Hi Sher,

The Emirates is one of the most liberal of Arab states, but you're correct about treatment or attitudes toward women not being very respectful nor equal.

Their way of life, culture and religion has a lot of good points that one needs to understand to appreciate.

Once Dubai becomes the melting pot of culture, trade and finance as New York is today, a lot of these mentalities you refer to will greatly diminish, and Dubai will develop a distinct mentality of its own - like New York. Any state or city that wants to operate in a global environment will have to "internationalize" its character and orientation to succeed. That will happen if and when Dubai achieves this objective, peacefully I hope. :-) --Durano, done!

durano lawayan a.k.a. brad spit said...

Hi r,

Mark Steyn has been mentioned to me before, you're the second one to tell me about him.

I am expecting a copy of his book by the second week of July.

Thanks for the recommendation. Now I am more driven to read it than previously.

Thanks for the comment and for dropping by. :-) --Durano, done!