BEIJING, The People’s Republic of China – For the debt-ridden West, the global financial crisis has been an unmitigated disaster, forcing the so-called developed economies to take on financial commitments that will serve as burdens for years, if not for generations.

Kuwait, Saudi Arabia and even the mighty Dubai are getting dragged down by the global economic turmoil. “The global financial storm rolled across the Persian Gulf on Sunday,” reports the WSJ, “as Kuwait’s central bank guaranteed bank deposits and cobbled together a hasty bailout for one of the country’s largest banks.”