Goldman Sachs: Financial crisis follows construction of skyscrapers

Baku. 1 February. REPORT.AZ/ China completed construction of 84 skyscrapers in 2016.

Report informs referring to Forexpf.ru, survey by US bank Goldman Sachs says construction of tallest buildings in the world predicts financial crisis. Thus, 1907 crisis followed construction of Metropolitan Life and Singer Building, 1929 crisis came after completion of Chrysler Building, 40 Wall Street and Empire State Building, 1970 crisis after World Trade Center, 1997 Asian crisis after Petronas Towers in Kuala Lumpur, dot-com crisis in early 2000 after completion of Taipei-101 and finally 2007 crisis after completion of Burj Khalifa in Dubai.

At present Goldman Sachs analysts anxiously observe construction of tallest building in the world – Kingdom Tower with 1 km height in Saudi Arabia. Notably, 42 stories of 167-storey skyscraper were reported ready in July 2016.