FLASH
Shkruar nga Federico Rampini
Against the backdrop of tensions in the Middle East, especially with missile and drone attacks from Iran, many are watching with secret pleasure what is perceived as the end of the "Dubai model"...
Among the stories that serve as a backdrop for the war in Iran is what I would call “Schadenfreude” towards Dubai. It is a German word that means a kind of secret pleasure in the misfortunes of others. There are many who feel pleasure in the end of the Dubai model, or in what is considered its possible end.
Amid tensions in the Middle East, particularly with missile and drone attacks from Iran, many are watching with secret pleasure what is perceived as the end of the “Dubai model.” Long considered a Mecca of arrogant capitalism and a tax haven, the city-state seems to be receiving “divine retribution” for its excessive glitz. However, behind this narrative lie three fundamental misconceptions that challenge the idea of an inevitable decline.
The first and most widespread misconception is that Dubai's wealth comes from oil. Unlike other emirates, Dubai has almost no oil reserves. For this reason, it was forced to "invent" an economy based on creativity and innovation. Instead of relying on natural resources, the city built an empire on logistics, transportation, tourism, finance, and real estate. This was not a guaranteed success, but the result of a strategic vision to create wealth where it did not naturally exist.
Second, while the exaggerations of luxury may not be to everyone’s taste, Dubai’s capitalist model presents itself as a superior alternative to other dominant models in the Arab world. For decades, much of the region has been mired in a culture of victimhood, governed by incompetent and corrupt elites who have failed to create prosperity while constantly blaming Israel and the West. Dubai chose a different path: it rolled up its sleeves and created wealth. This model is also significantly preferable to that of the aggressor, Iran, a theocracy dominated by a fanatical caste that has sown nothing but suffering and war in the region and beyond.
Finally, it is premature to declare Dubai's funeral. Despite the extraordinary challenges of the times, residents and close observers report that the city is showing surprising resilience. The current difficulties are great, but Dubai's ability to adapt and survive surpasses the apocalyptic narratives that circulate. To celebrate its end today would be a premature mistake. / Adapted from "Pamphlet" by "Corriere della Sera"
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