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City of Dreams

In a surprise announcement on Monday, Halliburton revealed plans to move its corporate headquarters from the U.S. to Dubai. And in a less momentous event last week, Madame Tussaud's chain of wax museums, of which Dubai was the majority owner, was sold to the U.S. private-equity group Blackstone.

Dubai hasn't been so much in the American news since Dubai Ports World attempted to purchase a company that operates a number of high-profile ports in the U.S. That led to a bipartisan revolt in Congress and grossly unfair accusations...