Country Analysis Of UAE: The Leader Of The Arab Emirates

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2. Country Analysis The ruler of every emirate is the one responsible for any change than need to be made in his emirate. As the constitution of 1971 states, each emirate has the right to dictate its own special rules including its control over natural resources (notably oil) and revenues. Generally speaking, federal laws have been framed in a way that it does not confront the local laws of every Emirate, since every Emirate already had its own existing rules and regulations before the country’s existence. UAE’s constitution divides the source of power in the country into three: executive, legislative, and judicial. b. Economic analysis: The economy of the UAE is ranked the second after Saudi Arabia among the rest of Arab countries. with a GDP of…show more content…
With Dubai being as an exception, all other Emirates among the UAE is dependent on oil revenues. For example, Abu Dhabi’s economy mainly relies on petroleum and natural gas. In 2009, around 85% of the UAE's economy relied on the oil exports. Mainly, all Emirates have remained somehow conservative in their approach to diversification; except Dubai, which has smaller oil reserves among others, was more courage to engage into diversifying its economy. Between 2007 and 2010, Dubai suffered from a significant economic crisis. Abu Dhabi's oil wealth was able to help Dubai to overcome its crisis. But unfortunately, Dubai is currently in a severe deficit. UAE and Dubai specifically relies also on tourism; given the fact the world's fanciest hotels are located in the UAE. UAE’s diversified economy relies on construction sector, the uprising industrial sector, and its successful services sector. Speaking about the construction sector, it is believed that there is currently $350 billion worth of construction projects across the UAE. The UAE is an active member of the WTO (World Trade Organization) and
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