While international trade, this Gulf city’s foundation, is growing, Dubai could benefit from further diversification if the technology sector blossoms.

For a taste of what Dubai entirely used to be during your travels here, visiting the city on both sides of the Dubai Creek is a must. Take an abra, a traditional wooden boat.

Countries will tout worker productivity, GDP, GNP, and FDI. One country, however, is trying to attract investors by touting its quality of life, and suggesting that its land about the size of Washington state with the population of Berlin be considered just because well, it is a nice place. And that country is Uruguay.

For a generation, we have enjoyed everything from cashmere sweaters to smartphones, with the assumption that because of China’s 1.3 billion people, there would always be an endless supply of cheap labor. But there’s a huge price tag–even if a huge pond separates us from China.

The Aalsmeer Flower Auction is a lesson in international trade. With all the cry over buying local, the fact is that so many around the globe make their livelihood off the hauling of goods across the world’s borders. Depending on what data you read, only about 5% of products ship by air—but that small fraction accounts for about 90% of the total value of goods traded by nations.

Much of the conflict over climate change between developed and developing countries focuses on who should pay for the transition away from fossil-based fuels. Some in the West say that countries with less stringent environmental laws, such as India and China, should be subject to a carbon tariff, often referred to as a border adjustment tax.