The most difficult moment in Dubai’s 20th-century history was when in the 30s the Japanese discovered a way to culture pearls artificially. The process brought havoc to the Gulf region economy as prices for natural pearls decreased and the Great Depression in USA decreased demand. Dubai is, however, looking to to become once again a pearl-trading center during the present global financial crisis.
“Maybe there is some sentimentality here, but we do believe Dubai can once again become a pearl trading centre, even if it does not turn into a multibillion-dollar industry here,” says Ahmad Bin Sulayem, chairman of the Dubai Metals and Commodities Centre (DMCC).
why not try pearling again but why not stick to gold as that's what Dubai is really know for. Isn't it the so called City of Gold?
Gold is much in demand now in India because of Hindu festival Akshaya Tritya which is on 27th of April.
Dubai has always been good in trading gold (you know about Gold Souk) and other precious metals and precious stones, so going back to becoming a center of trade for pearls is a good idea.
pearls.... i love them!!!!
good for them
I don't know if it is a wise decision. now there are also artificial pearls which are just as good as the real ones but cheaper. I think they should go for the gold. one can not be good at everything (even if the sheik demands)