Dubai has a ridiculously weak bargaining position against Abu Dhabi right now, given that Dubai is essentially dead in the water without Abu Dhabi’s liquidity.
This might not just be money between friends.
Expect Abu Dhabi to get their money’s worth, given that they can extract pretty much whatever concession they want in the end — even perhaps stealing Dubai’s financial hub status.
Starting at 1:00.
- “They wanted Dubai to sweat…”
- “I think they are going to get their pound of flesh… it might be ownership of Emirates Airlines, inheriting the mantle of regional financial services, Abu Dhabi I think is going to be the big winner here.”
- “They’re playing their cards pretty well to take what they want.”
- “Will Abu Dhabi take over [Dubai’s] role?”
- “I think they well… it’s something they’ve been aspiring to do…”