The Dubai crisis appears to be a crisis of many proportions. In the view of some experts, even Abu Dhabi’s $10bn assistance to help bail out Dubai World on its repayment of $4.1bn of Sukuk bonds has not had enough of an impact on the world stage. Dubai World can take a breather for now, but the real problem is how to get the market thinking positive again.

Opinions vary on this issue and Dubai-based think tanks local and foreign are busy speculating on what would be good or bad moves towards reviving the emirate’s beleaguered economy.

To be sure, it is never easy to recover the economy from a recession. When the world’s largest economy went into recession two years ago, it gradually became clear that it was more than just a local phenomenon. It has affected all of America’s trading partners. The sad thing was that it took a long time for the Republican Administration to officially announce this fact. He was already up to his neck in the War on Terror, and was more interested in crippling the American way of life through repeated Homeland Security-style terror warnings. He had entered Iraq in search of weapons of mass destruction that did not exist, and after having been unsuccessful to date in tracking down the whereabouts of the world’s most wanted man, Osama bin Laden, his war spending was rapidly putting him in ever greater debt. plus. . What’s more, Dubya, in his usual pompous style, swiftly vetoed repeated Congressional decisions to cut war spending with his “heck can’t care” attitude.

All of these events would, in effect, culminate in plunging the United States into a deep recession. The Republican Government once again set events in motion in the mortgage industry by consolidating many firms under the control of Fannie Mae and Freddie Mac. Laws and regulations in the banking industry were changed to allow this to happen. The net effect was that the management of both companies was overwhelmed by the change and the responsibility it entailed.

Another factor contributing to the global recession was the loss of crops in many countries due to the effects of floods, tsunamis, landslides, and other natural and man-made calamities. This food shortage not only affected the distribution of food supplies but also contributed to inflationary trends in food prices in many nations.

So now the world, including Dubai, is faced with the challenge of how to revive the economy and stimulate growth. Economists argue that it is all a matter of perception and therefore if we change reality, the change in thinking will follow. For one thing, the Dubai government needs to simplify the process for issuing three-year residency visas that previously allowed foreigners to invest, live and work in Dubai during that period. It can bring back interest in Freehold Property Dubai, restore buyer confidence in this time of crisis and add some life to foreign property investment in a region currently showing a collapse in investment.

Both leasehold and freehold properties in Dubai are open for consideration for those coming to the emirate for business or pleasure. It is also possible to rent apartments in Dubai at affordable prices now that the housing bubble has burst. Just look at the apartments for rent in Dubai in the classifieds section of the newspapers.