Dubai, called by some as a dream in a desert; a gate between east and west. Home to some of the world's tallest buildings and the only underwater hotel, Dubai may seem like the epitome of magnificence, but beneath its exterior of perfection lies a dark secret. Even though Dubai appears to be in a position of economic bliss, Dubai has accumulated billions of dollars in debt and there is no sign of slowing down. Even though the UAE is experiencing an economic slowdown, it continues to spend huge amounts of money, a habit that will not prove good for the country in the future. One of the main factors that caused Dubai to take on billions of dollars in debt was from the real estate sector. Dubai had built tons and tons of infrastructure, buildings, shopping malls and even islands, but when the global recession hit in 2008, everyone stopped buying. Simeon Kerr, in an interview, states that "there are two major drags on the economy...one is the debt burden...and the other is real estate" ("The Burden of Dubai's debt"). What Simeon Kerr is saying is that once the global recession hit, everyone stopped buying real estate, and when they did, its value dropped so much that businesses, businesses and the people who sold the properties lost money even if the properties were sold. Robert Worth, in his newspaper article, illustrates how far house prices have fallen when he says that house prices have fallen by thirty percent and sometimes by an even greater margin ("Laid Off Foreigners Flee as Dubai Spirals Down). As we can see, this gigantic drop in real estate prices has caused almost all real estate companies to lose money. Because of all this money being lost, the medium of paper was tied to the world. It is home to the tallest building in the world and the largest shopping center in the world. Unfortunately, Dubai did not get there without consequences. This consequence is the debt burden they currently face. Due to Dubai's insatiable spending, they have accumulated an exorbitant amount of debt and continue to pay it off. The outcome of Dubai's debt race could determine the future of many other emerging countries. If Dubai, which seemed so perfect on the surface, were burdened with debt, investors would be less likely to take risks investing in a developing country and would instead keep their money where it is safe. But ultimately, if Dubai continues to spend its money instead of repaying its debt, the consequences could be more serious in the future, such as a loss of international interest and could even return to the desolate wasteland it once was..