Dubai assumes it's too big to fail. We'll see about that

Dubai was supposed to be a new model for economic development in the Persian Gulf, and in the world. And like so many recent "new models," Dubai is proving to be a lemon. The theory was that Dubai would be a competitive, free oasis in a region generally hostile to the open market. Lacking oil resources of its own, it set itself up as a sponge to sop up resources-generated cash.