Now that has Tiger Woods canceled his appearance at his annual golf tournament at Sherwood Country Club in Thousand Oaks and admitted to marital transgressions, there’s still one lingering question about the golfer and his empire.

That’s because while the tabloids and blogosphere are filled with speculation about what transpired between Woods and his wife over Thanksgiving, something else was happening on the far side of the world.

That something else would be the financial meltdown and near default of Dubai, a city-state that has staked its future on go-go commercial real estate development.

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