November 9, 2007
The tumbling U.S. dollar is stirring trouble in Dubai’s construction industry, fuelling labor protests, squeezing contractors’ margins and threatening work on the building site of the world’s tallest building.
Dubai is the commercial center of the United Arab Emirates, which links its dirham currency to the U.S. dollar. The dollar’s slide to record lows on global markets is reducing the amount of money most of Dubai’s expatriate workers can send home.
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