Dubai World is the holding company of Dubai government, and just like China Investment Corporation, it is the sovereign fund of our country.

The government-controlled Dubai World manages the port operator DP World and the troubled investment company Istithmar.

Dubai World has developed some of the most luxurious real estate projects in THE WORLD, and its Nakheel Real Estate Company has built many residential projects and reclamation projects, including the famous "World" artificial islands The World and Palm Island. In June this year, Dubai announced that it would build the world's tallest skyscraper (1100m), surpassing the Burj Dubai (162nd floor, with a total height of 818m) specially developed by Nakheel Real Estate Company.

Dubai is the second largest emirate in UAE, covering an area of 3,885 square kilometers, accounting for 5% of the total area of UAE. Dubai has the world's first seven-star hotel, the world's largest shopping center, the world's largest indoor ski resort, a steady stream of oil and an important trading port status, which have brought great wealth to Dubai and made Dubai synonymous with luxury.

The global financial crisis ended the glorious development history of Dubai Emirates for several years, and many projects were forced to stop work or even cancel, and many projects similar to Palm Island became "unfinished buildings". At present, the Dubai government holds about $80 billion in debt.

The impact on China is indirect, because there is no financial institution involved in China; The impact on the world depends on the development of the situation, and it is not easy to determine now.