Shakeel- I agree with your comments about Spain;
“Legal system, Civil service competancy, consumer rights, fairer tax system, low social security, control on crime, need for notary for all and sundry transactions, union powers,”
But Dubai did change from a solely oil producing nation. Having calculated that it´s oil reserves would run out sooner rather than later they decided to use the revenue from it to create a millionairs playground and become a real estate/investment capital superpower.
It will all end in tears though, I for one would not invest a cent in a country run by a despot! When he dies or becomes ill, his brothers will fight for power and his children will assume it, could be a catastrophe waiting to happen. One man´s dreams are another mans nightmare!