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In Dubai (Shariya) Law it is an offence not only to miss a mortgage payment but even to ask for a delay. As the offence is instantly punishable by imprisonment The World credit crisis meant many expatriates fled the country rather than admit they had a problem. Paradoxically Dubai World were forced to ask for a delay in making interest payments on their lending. As they are in the property business this created a self perpetuating spiral with properties falling vacant at a time when Dubai Worlds' cashflow needed property take-up the most. Abu-Dhabi has previously provided a degree of "guarantee" to the Dubai economy but this time they have been slow to step in. Hence confidence is low & the pack of cards is starting to wobble.
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What caused the farming crisis of the 1920's?
Drought, overuse of land
The farming crisis in the 1920s was caused by a decrease in demand for crops after what?
World War I.
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sensitivity to crisis in other countries that causes a delay in imports
European nations have experienced a debt crisis what caused the crisis?
During times of economic prosperity, some nations borrowed more money than they can pay back now in times of economic hardship.
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The Russians caused it by blockading Berlin.
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Tariffs
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An economic crisis.
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A trauma is often caused by a crisis. A crisis is the issue, often an emergency, accident or negative undertaking, that may result in trauma.
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The Missouri Crsis was about the issuse that slavery has caused.
What issue caused the Nullification of Crisis of 1833?
Tariffs on imports
What issue caused the Nullification Crisis 1833?
Tariffs on imports
