Phoenix officials said Monday they remain confident Dubai is still a good place to do business, even after the Middle East emirate's investment arm announced it would not be able to pay creditors on time for some of its nearly $60 billion in debt.
"It's just a matter of when business will pick up again," said Community and Economic Development Director Don Maxwell, who has been bullish on the Middle East and Dubai, one of seven city-states that make up the United Arab Emirates. "You just don't know what the timing will be, but it will happen."
Seriously, why are we paying Phoenix government officials to opine on stuff like this, and why is it news?
The two cities have exchanged best practices for wastewater management. Dubai imported 80,000 Palo Verde trees from a Phoenix nursery. And Charity Charms, a Phoenix-based maker of charms for nonprofit groups, received a $13,000 order from a Dubai arthritis support group shortly after the agreement was inked.
Oh, I see now. $13,000 in charms? Dubai was practically driving our economy.