Abu Dhabi: Oil and Beyond

The author of Dubai: The Vulnerability of Success traces Abu Dhabi’s transformation from a modest 18th-century emirate to its present position: burgeoning cultural center, holder of close to a trillion dollars in sovereign wealth and more than eight percent of world oil reserves, about to implement new economic initiatives and become an important factor in both first and third world economies. He describes the system of “tribal capitalism” created by the ruling family to align old political allegiances with modern engines of growth, and also considers coming challenges to the emirate’s success.