this post was submitted on 18 Mar 2026
94 points (90.5% liked)

World News

54976 readers
2422 users here now

A community for discussing events around the World

Rules:

Similarly, if you see posts along these lines, do not engage. Report them, block them, and live a happier life than they do. We see too many slapfights that boil down to "Mom! He's bugging me!" and "I'm not touching you!" Going forward, slapfights will result in removed comments and temp bans to cool off.

We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.

All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.


Lemmy World Partners

News !news@lemmy.world

Politics !politics@lemmy.world

World Politics !globalpolitics@lemmy.world


Recommendations

For Firefox users, there is media bias / propaganda / fact check plugin.

https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/

founded 2 years ago
MODERATORS
 
you are viewing a single comment's thread
view the rest of the comments
[–] stoly@lemmy.world 33 points 5 days ago (2 children)

Anyone who genuinely thought that Dubai was a solid long-term investment deserves to lose out. It was always going to collapse, we just didn't know that action in Iran would be the cause.

[–] redsand 5 points 5 days ago (1 children)

I thought McKesson was going to string Saudi Arabia along for years with "The Line" until the country collapsed. Oil based economies are in their final decades

[–] stoly@lemmy.world 2 points 5 days ago

I do think that this is the case. It also means that that the Texas oil barons will have to move into something new. This will be better for humans and the planet.

[–] plyth@feddit.org 1 points 3 days ago (1 children)

Why? Should't Dubai be able to continue being a trade hub?

[–] stoly@lemmy.world 2 points 3 days ago (1 children)

Dubai is a country that produces nothing but petroleum. The only reason the royal family is rich is because of cars. There is nothing else made there. There is no other trade. The world is moving towards renewables, which means that you should expect it to slowly disintegrate.

[–] plyth@feddit.org 0 points 3 days ago (1 children)

Dubai doesn't have oil. They have been a trade hub and they can continue trading.

[–] stoly@lemmy.world 1 points 3 days ago (1 children)

UAE exports oil. Dubai is part of UAE.

[–] plyth@feddit.org 1 points 3 days ago

Dubai's economy centres on trade, tourism, aviation, financial services, and real estate.[12][16] The Dubai International Financial Centre (DIFC) is one of the world's major financial centres. In 2024, Dubai was the seventh most-visited city globally.[17] Dubai International Airport (DXB) is the world's busiest airport for international passenger traffic, handling over 92 million passengers in 2024.

https://en.wikipedia.org/wiki/Dubai

What changes if the oil is gone? The money will remain.