This past weekend, the richest horse-race in the world was run. It was the 14th Dubai World Cup and the prize money was worth six million dollars. (A Kentucky horse named Well Armed won the race. Whoot!) But despite the opulent horse race, and the showiness of Dubai's gleaming and booming economy in recent years, the country is showing signs of vulnerability to the global economic downturn. For more we turn to the BBC Persian Gulf correspondent, Julia Wheelerin, who is in Dubai.

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