If the Skyscraper Index maintains its track record, then China should steel itself for economic collapse. The infamous property index says construction booms that give rise to the world's tallest buildings are the harbingers of economic busts. On July 20, developers celebrated the groundbreaking of Sky City in the southern Chinese city of Changsha. It is set to be completed in 2014 and at 838 meters it would overshadow the Burj Khalifa in Dubai -- currently the world's tallest building -- by 10 meters. "The Skyscraper Index has a good 150-year correlation between the world's tallest buildings and economic slowdowns and recessions," says Andrew Lawrence, pioneer of the Skyscraper Index and head of Hong Kong and China property research at CIMB Group. "For China, there is no reason that correlation will change."
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China's skyscraper boom to bring economic doom, if history is precedent
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China's Sky City will be world's tallest building in 2014 at 838 meters, besting Burj Khalifa
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Market crashes followed construction of Chrysler Building, Petronas Towers, Burj
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CIMB's Lawrence: Economic busts tend to occur after large credit expansion like in China
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