British firm Barclays Capital is reporting that the mania for skyscrapers over the last 140 years is a sure indicator of an imminent crash.
Image via Paul Cowell on Flickr
This article titled “China’s skyscraper craze ‘may herald economic crash'” was written by Phillip Inman, for The Guardian on Wednesday 11th January 2012 19.17 UTC
China could be the next country to go bust, if its headlong rush to build ever-taller skyscrapers is a guide to its future economic health.
According to a study by Barclays Capital, the mania for skyscrapers over the last 140 years is a sure indicator of an imminent crash.
It points out that the construction boom that threw up New York’s Chrysler and Empire State buildings preceded the New York crash of 1929 and Great Depression.