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Unlike its counterpart in Zimbabwe, though, the UAE has not been immune to the global economic downturn and its economic growth has been hampered in recent years as global demand for its products and services has decreased (UAE 2011). Currently, analysts expect continued slow economic growth for the UAE (Siddiqi 41) but further challenges remain including an enormous expatriate workforce and inflationary growth (UAE 2011). Likewise, unlike Zimbabwe, the UAE has enjoyed a stable political history that has helped attract international investment. In this regard, Heard-Bey emphasizes that, "Above all, it is the combination of the adopted federal form of government with the inherited role of the tribal rulers, which makes the UAE unique in terms of political structure and reality of governmental administration" (358).
Comparison of Zimbabwe and UAE Development and Economic Metrics
As can be readily discerned from the data in Table 1 and with selected metrics graphically depicted in Figures 1 through 3 below, Zimbabwe and the UAE are at two ends of the economic development spectrum -- indeed, Zimbabwe appears a just a blip compared to the UAE. Not surprisingly, the UAE's oil and gas resources have helped contribute to the country's transition into a modern free market economy, but there are also significant differences in the types of industries in each country, with Zimbabwe remaining a largely agricultural economy while the UAE has radically diversified its economy into a service industry that adds value rather than relying on harvest-based resources as with Zimbabwe.
Table 1
Comparison of Key Development and Economic Metrics: Zimbabwe and the UAE
Metric
Zimbabwe
UAE
Population
12,084,304
5,148,664
Area
390,757 sq km
83,600 sq km
Inflation rate (consumer prices)
3.7%
0.9%
GDP (purchasing power parity): $5.457 billion
$246.8 billion
GDP (official exchange rate)
$7.474 billion
$301.9 billion
GDP - real growth rate
9%
3.2%
GDP - per capita (PPP)
$500
$49,600
Unemployment rate
95%
2.4%
Labor force - by occupation:
Agriculture: 66%
Industry: 10%
Services: 24%
Agriculture: 7%
Industry: 15%
Services: 78%
Population below poverty line
68%
19.5%
Source: CIA World Factbook, 2011
Figure 1. GDP (purchasing power parity): Zimbabwe vs. UAE
Figure 2. GDP (official exchange rate): Zimbabwe vs. UAE
Figure 3. GDP -- per capita (PPP).
Source: Based on tabular data in CIA World Factbook
Conclusion
The research showed that Zimbabwe is a developing nation faced with many of the same economic development problems that confront other African countries, including widespread corruption, hyperinflation and an agricultural-based economy that is subject to the whims of nature. In spite of relatively abundant natural resources, Zimbabwe continues to struggle to overcome these challenges and join the international community in more meaningful ways. Despite these challenges, though, the research also showed that Zimbabwe has experienced its first significant economic growth in more than a decade and analysts project continued growth provided that its staggering unemployment levels and political instability problems can be resolved. Nevertheless, the majority of Zimbabwe's population earns less than $2 a day while by very sharp contrast, the citizens of the UAE enjoy an annual income of nearly $50,000. In sum, with less than half as many people and a fifth of the geographic area, the UAE outdistances Zimbabwe across the board in terms of economic development, but such comparisons are meaningless unless the historical context in which such development has occurred is taken into account.
Works Cited
Heard-Bey, Frauke. (2005). "The United Arab Emirates: Statehood and Nation-building in a Traditional Society." The Middle East Journal.....