US Recession is good news for UAE, as some economists, as interviewed by Emirates Business, said it offers favorable oppurtunities for the UAE economics. Find out why? The old adage used to be that when the US sneezes, the rest of the world catches a cold, but economic dynamics have changed markedly over the past few years with the rise of sleeping giants such as India and China and the newfound confidence of the oil-rich Gulf.
That is not to say Asia will not be affected by a US
slowdown, but its impact will be less severe than it would have been in the past.
Indeed, in its April World Economic Outlook, the International Monetary Fund (IMF) downgraded its economic forecasts for all regions apart from the Middle East, which it now says will see its GDP rise by 6.1 per cent in 2008.
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slowdown, but its impact will be less severe than it would have been in the past.
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