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For a long time, the United Arab Emirates was known mostly for a boom-and-bust real estate market, the consumerist glitz of Dubai, and vast oil resources. Under President Mohammed bin Zayed, the UAE has spent billions of dollars building up and modernizing its military, becoming what former U.
The UAE has clear ambitions: instead of being known primarily as a regional player, the UAE wants to be more like Singapore, deploying global and economic power dramatically disproportionate to its size and helping offset its geographic vulnerability. To that end, the country has cut new trade deals, invested in overseas projects, and turned itself into a tourist destination and transportation and logistics hub.
Should the UAE deliver on its ambitions, analysts searching for an apt comparision may have to look to the Medicis, the dynastic powerhouse that ruled Florence from the fifteenth through the eighteenth centuries. But the family became a major player by using trade and banking to influence the larger empires in its neighborhood. They established an enduring alliance with France, maintained strong diplomatic ties with England, and fostered connections with the Holy Roman Empire.
Florence became a focal point for economic activity, scientific discovery, and cultural achievement, including by funding Galileo and Michelangelo. It has a secular governance model and, unlike its neighbors, is relatively tolerant of different faiths. The UAE is part of U. It has strong ties with other emerging middle powers, such as Brazil, India, and Indonesia, thanks to its investments in their markets.