Content
@
0 reply
0 recast
0 reaction
balajis
@balajis.eth
The UAE deserves more study. It is technocapitalist. And a top location for global investors. It’s truly a nation of immigrants. Less than 15% Emirati, >85% foreign. It’s in hypergrowth. From 75k to ~10M people in 75 years. It’s like a Mars colony. Built a metropolis from nothing. Very impressive place.
27 replies
16 recasts
114 reactions
Xen Baynham-Herd
@xenbh.eth
The simple way to understand it imo: - Oil gave the region wealth - Monarchy used wealth to maintain ruling legitimacy (by ensuring the small population of nationals are well looked after) - Monarchy used wealth and legitimacy to make top down smart, long term investments (in a way a founder-led company might) - Many of these investments are now paying off.
1 reply
0 recast
8 reactions
balajis
@balajis.eth
Yes, though that’s the opposite of the resource curse. To take that initial oil money and do something with it shows real foresight that many other places didn’t manage.
2 replies
0 recast
20 reactions