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Country Rankings - African Union

  • Jul 18, 2013   African Union: being chaotic

    Dubai has dined out on what can loosely be called "Western" business so far, if that is interpreted to mean "developed," since China is an important player. But the sleeping giant that will ensure Dubai's regional dominance for the foreseeable future is of course Africa. Not quite sleeping, perhaps: there are some stirrings, and African economic activity is ratcheting up at an alarming pace at grass roots level. Internationally, though, Africa resembles a splintered Europe in the seventeenth century, with multiple monarchs doing all they can to steal their nations' patrimony and invest it . . . . where? Well, in Switzerland, Panama and Hong Kong, perhaps, but surely also through Dubai? Anywhere other than at home, of course. So that's one built-in advantage that Dubai possesses. Location, location, location! Ironic, that. As with the traditional offshore havens, Dubai will eventually have to become respectable, in the sense of no longer acting as a conduit for monies of uncertain origin, but by then it will stand tall as the only and obvious counting house for Africa's teeming millions of dollars.
    Source: www.lowtax.net/asp/story/front/East_African_Budgets_Hike_Taxes____61114.html


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