Contagion from Dubai’s debt standstill seen as limited
Asia-based economists say Dubai World’s request for a debt repayment extension won’t have any long-term contagion effect on global markets. However, they add it should serve as a caution against excesses in Asia’s burgeoning property market.
Despite sending global stock markets into reverse on November 26, Dubai World’s debt standstill won’t have a long-term contagion effect, say two Asia-based economists.
Stocks in Europe were the first to be hit, with the Dow Jones Stoxx 600 benchmark dropping 3.3% to just under 240 points, the most
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