Give me a summary of these paragraphs in one paragraph.

Present day situation does not give any other option then to join the globalization process along with other developing nations. However it may not be same for some developing countries. Globalization interrupts the culture and mentality of UAE people. If the country wants to attract tourist and foreign investors then it have to make compromises with its deep-rooted Islamic traditions, but the strong following of rules for both locals and foreigners results in losing most of the visitors and tourists. Therefore to enter the globalization UAE become a free country with broad views. This resulted in change not only culturally but also economically. Dubai can be best example as it is surrounded by conservative countries like Iran and Saudi Arabia but it is able to attract foreign investors by allowing company to work in tax free environment.

Globalization is acculturation of many countries. So it is very difficult to preserves ones culture and traditions, therefore for the sake of globalization people in UAE have to abandon some rules and values of their customs.


Another Challenge of globalization is financial instability; absence of financial control can also lead to economic instability. It is true that large countries are making profits from globalization but it is not confirmed in the case of small countries. Foreign investment helps in development of the country so it is important to have correct policy and logical use of the received money. Government should check whether the countries financial sector is getting full benefit from the investments or not. (Effect of Globalization on United Arab Emirates Market)


The challenges of globalization can be met through the joint effort of both public and private sector. The public sector is actively participating in development of open economy process and adapting economic and social circumstances in compliance with the requirements. On other hand private sector is getting support by establishment of industrial area and free trade zone. Enhancement in the process of privatization is letting the market forces to remedy twists and turns timely by controlling economic life.


Government should not only be responsible for the growth and development, private sector should also participate. Private sector can help by improving performance and productivity. They can merge small private enterprises to make large productive unit and can increase competition. Meanwhile, Government should work with social and business organization to achieve different goals. (Paulo, 2004)


On the security end, UAE has signed many defense treaties with western powers like US, Britain, France and have strong defense relations with closer nations and number of other nations.


With the time there is change in thinking of people in UAE, because of positive changes brought by Dubai in field of business development. Even it has become an example for other emirates. Younger generations of UAE are leading him and are the decision makers. Their inputs are making remarkable changes in the commercial and infrastructural sectors. The younger generation is directly related to ruling families.