By Robert Fisk
"....There are, however, two basic truths about Dubai which, predictably, have not found their way into market speculation or newspaper analysis. The first is that Dubai may soon find itself a satellite not of its Abu Dhabi capital but of India. The biggest merchants in Dubai are Indian – they run the gold market, even the bookshops in Sheikh Mohamed's playpen – and west India is only two hours' flying time away. In fact, until 1962 – and you have to be an oldie to understand the emirates' economic world – the Indian rupee was the currency for most of the Gulf, including even Kuwait......."
"....There are, however, two basic truths about Dubai which, predictably, have not found their way into market speculation or newspaper analysis. The first is that Dubai may soon find itself a satellite not of its Abu Dhabi capital but of India. The biggest merchants in Dubai are Indian – they run the gold market, even the bookshops in Sheikh Mohamed's playpen – and west India is only two hours' flying time away. In fact, until 1962 – and you have to be an oldie to understand the emirates' economic world – the Indian rupee was the currency for most of the Gulf, including even Kuwait......."
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