Question: 6. Case Study: There is an unhealthy correlation between the skyscrapers and subsequent financial crashes according to Barclays capital. Examples include: the world first skyscraper-
6. Case Study: There is an unhealthy correlation between the skyscrapers and subsequent financial crashes according to Barclays capital. Examples include: the world first skyscraper- Equitable Life Building in New York (completed in 1873 and coincided with a five year recession), the Empire State building (the Great Depression under way), Chicago's Willis Tower - formerly known as the Sears Tower- in 1974 (during an oil shock and when the US dollar's reliance on gold was abandoned, and Malaysia's Petronas Tower in 1997(corresponding to Asian financial crisis).Currently the world's tallest skyscraper is in Burj Khalifa built on just before Dubai's financial troubles. China is the biggest builder of skyscrapers, with 53% of all the tall buildings in the world. JPMorgan Chase said that the Chinese property could drop by as much as 20% in value in the country's major cities within the next 12 to 18 days. "Often the world's tallest buildings are ....[ a reflection of ] a widespread misallocation of capital and impending economic correction" , Barclays capital analysts said. Examine the correlational finding and provide plausible alternatives for the findings.
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