What is the impact of dubai financial collapse on indian economy?
based nri (housing /car/farm loans)
The Dubai collapse and the global financial crisis is due to the simple fact that people started playing w/ money they didn't have.
It is a different story when u build a building fully and then offer it for sales. That meant u poured in your money into the building complex. U completed it. Sold it. And got a profit. But then, if u compile a sexy looking presentation, get a bunch of cash advance, and invest it in wall street for a while, and then start ur project against ur wall street holdings, when recession strikes, u lose everything because ur project values were backed by speculation.