The dynamics of the second order rational difference equation in the title with complex parameters and arbitrary complex initial conditions is investigated. Two associated difference equations are also studied. The solutions in the complex plane of such equations exhibit many rich and complicated asymptotic behavior. The analysis of the local stability of these three difference equations and periodicity have been carried out. We further exhibit several interesting characteristics of the solutions of this equation, using computations, which does not arise when we consider the same equation with positive real parameters and initial conditions. Many interesting observations led us to pose several open problems and conjectures of paramount importance regarding chaotic and higher order periodic solutions and global asymptotic convergence of such difference equations. It is our hope that these observations of these complex difference equations would certainly be new add-ons to the present art of research in rational difference equations in understanding the behavior in the complex domain.
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