Dubai New Year’s Fireworks Display, 2013

Juan Cole 12/31/2012

Fireworks at the iconic Burj Khalifa in Dubai for 2013:

Dubai is back. Its economy grew 3.2 percent in 2012, owing in part to good economic growth among its two major trade partners, China and India, and in part to the United Arab Emirates federal government having stepped in to use government stimulus to achieve a classic Keynesian growth effect. (Rajoy in Spain and the US tea party are just wrong and need to take economics 101).

So a little good cheer for us all from a bright spot in the Middle East.

About the Author

Juan Cole is the founder and chief editor of Informed Comment. He is Richard P. Mitchell Professor of History at the University of Michigan He is author of, among many other books, Muhammad: Prophet of Peace amid the Clash of Empires and The Rubaiyat of Omar Khayyam. Follow him on Twitter at @jricole or the Informed Comment Facebook Page