Dubai is fueled by oil money, something that China doesn't have a lot of (relative to their population size). You can explain a lot by looking at the oil money to population ratio of various polities. The ebb and flow of the balance sheets of Texas, Saudi Arabia, Dubai, Venezuela and Norway all have a lot to do with the price of oil and their local production. In many places around the world, successful socialism means oil production, and failed socialism means failures in oil production. Government-owned oil reserves allow countries to "cheat" the taxes-versus-services dilemma, but that never lasts for long. Presently Saudi Arabia is feeling the pressure of decline and may not be able to pay their people to be happy for much longer. Venezuela is practically collapsing right now, and it all started when they had a series of oil production disasters that crippled their national reserves. Texas and Norway might be better prepared, because they have been investing the money, Texas in roads and education and Norway in their country in general.