Sunday, December 13, 2009

America needs a friend like Abu Dhabi

A strange sounding headline got my attention on the BBC website today, "Abu Dhabi gives 10bn to Dubai to help pay debts." I was confused since I've never heard of Abu Dhabi before, turns out it's the Capital of the U.A.E. Since Dubai has lost so much money in the economic downturn, its neighbor came to the rescue. Dubai had loans to repay, but not the accumulating interest kind America has with China, turns out Dubai was afraid of coming up short on repaying a special "Islamic Loan" which doesn't accrue any interest according to Islamic law. A story like this makes me envious that America doesn't have a friend like that. Would Canada hand over billions if the U.S was in danger of defaulting on its loans? I doubt it. I believe there is little sympathy in the world for the suffering of the U.S during this downturn, and maybe that's a sign that we need to work harder to foster bonds with our neighbors of the world.

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