In the 1990s, it was the Japanese who were buying up all the world’s assets, triggering a panicked frenzy of economic nationalism. A few years ago, it was the Chinese, trying to buy an also-ran oil company. Now, it’s “the Arabs,” as Fox Business News affectionately calls the folks in Dubai.
According to the WSJ, the Dubai Investment Fund has gobbled up a significant stake in Japan’s precious Sony. This follows a recent Abu Dhabi* investment in the U.S.’s AMD (which served as fodder for a popular Fox Business blooper that resulted in the temporary creation of a new Arab country called Abu Dubai).
Think Middle East tensions are high now? Just wait until the Dubai sheiks try to trade some of that oil money for the Empire State Building.
See Also: “Apple Buys AMD!” Wait, Scratch That. “Abu Dubai!”
*Fox’s report on “Abu Dubai”, unfortunately, was originally taken here to mean “Dubai.” It was actually Abu Dhabi.
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