HOUSE OVERSIGHT 024942 Dubai model will go down the river. I am fully aware that some financial and economic circles were not happy with the progress we managed to achieve on various tracks including investment, aviation industry, IT and global competition in mana ging and financial markets. The UAE has proven remarkable competency in addressing difficult questions imposed by the global financial crisis. I strongly believe it won't be long before international focus will shift from what is claimed to be Dubai's shortcomings to Dubai's and the UAE's overall success in passing this difficult test. By Al-Sharq al-Awsat Daily Almost a year ago, and during your visit to Asia, you warned against the global financial crisis. Why precautionary measures have not been undertaken to avoid negative impacts of this crisis on both Dubai and UAE? The crisis have taken the whole world by surprise and evolved in tremendous pace. During my visit to Asia, I had warned against turmoil in financial and commodities markets, marginalizing the role of international financial institutions and potentials that these institutions fall short from fulfilling their expected roles in a world where all international markets became very much related, turning into one huge global market which does not follow any international rules, regulations or supervision. I had urged leading world economies to move swiftly and reconsider roles and mechanisms of international financial establishments and institutions, especially the International Monetary Fund -- and that what exactly the G20 summit did last month earlier this month. Regarding the precautionary measures, I believe that no preventive measures neither i n the UAE or any other country in the world, would have provided the desired immunity from the ramifications of the global financial meltdown. The UAE's solid economic structure, efficient performing establishments, adoption of a balanced model of conservative banking policies