At dubai creek in the United Arab Emirates the dock workers load everything from computers to cigarettes onto dhows headed across the Persian Gulf to Iran. At the airport, some ten minutes away, men with suitcases full of dollars board planes bound for Tehran. Dubai, the busiest entrepot in the Gulf, has long been the back door through which smugglers have entered Iran to swap goods and cash in breach of Western sanctions. It is now hoping to become Iran's front door as well. The nuclear deal between Iran, America and five other world powers will gradually lift most sanctions if the mullahs keep their end of the bargain. This has raised fears that a more prosperous Iran will step up its meddling in Arab affairs (see previous article), and that its renewed oil sales will lead to yet lower prices and a battle for market share. But others see an opportunity, as the region's largest market-home to nearly 8om mostly young and typically well-educated people-reopens. Dubai is best placed to take advantage.
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