Problem is that free market does not allow for in betweens.
The second problem is that at the very same instant when the west finally made financial globalization and free markets a reality, players enter the stage that play by a totally different set of rules.
Neither China nor Russia nor the Arabs (wherever they come from) are interested in adhering to Smith's principles for principle's sake.
They want to (re)build empires.
Dubai is quite harmless compared to Saudi Arabia.
On the other hand, Dubai is allready taking away the whole islamic finance sector away from London. Why should you give a Kafir a share (maybe even a jew), when you can let your muslim brothers manage your fortune?
Problem is, the anglo-american capital world owes the Arabs big time. In a way, this is the price to pay for winning the cold war.
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