Given our reliance on China and India for much-needed economic growth, the "unhealthy correlation" researchers have identified between the building of skyscrapers and imminent financial collapse is far from encouraging.
The study from Barclays Capital certainly does not lack corroborative evidence. From the Empire State Building (the Great Depression), to Malaysia's Petronas Towers (the 1990s Asian financial crisis), to the Burj Khalifa in Dubai (the most recent meltdown), there are few big names that do not appear in the ranks of recession-hit architectural hubris.
Worryingly, more than half of the 124 mega-towers currently under construction around the world are being built in China, and 14 of them are in India. Closer to home, London's Shard – the tallest building in Western Europe – is due to be completed in June. By some auguries at least, it seems the worst may not yet be over.Reuse content