According to CNN, China is planning the construction of the world’s tallest building to be ready by early 2013, a 220-story structure which would cost the Chinese about US$628 million. Once completed, it will surpass Dubai’s Burj Khalifa to become the tallest structure in the world. The building will also outshine China’s current skyscraper poster boy: the 632-meter Shanghai Tower.
CNN (June 2012): It took Dubai more than five years to build the 828-meter Burj Khalifa, the world’s tallest building (for the moment, anyway).
But Chinese architects and engineers reckon they need a mere 90 days to leave the Emiratis in the dust.
At least, that's what they've claimed.
Wikipedia: The Skyscraper Index is a concept put forward in January 1999 by Andrew Lawrence, research director at Dresdner Kleinwort Wasserstein, which showed that the world's tallest buildings have risen on the eve of economic downturns. Business cycles and skyscraper construction correlate in such a way that investment in skyscrapers peaks when cyclical growth is exhausted and the economy is ready for recession. Mark Thornton's Skyscraper Index Model successfully sent a signal of the Late-2000s financial crisis at the beginning of August 2007.
The buildings may actually be completed after the onset of the recession or later, when another business cycle pulls the economy up, or even cancelled. Unlike earlier instances of similar reasoning ("height is a barometer of boom"), Lawrence used skyscraper projects as a predictor of economic crisis, not boom.
Source: http://brazilianbubble.com/skyscraper-index-never-fails-china-plans-worlds-tallest-building/
Source: http://www.ritholtz.com/blog/2012/04/skyscraper-index/
Source: http://en.wikipedia.org/wiki/Skyscraper_Index
Source: http://www.cnngo.com/shanghai/life/sky-city-chinese-company-proposes-worlds-tallest-building-098182
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