Sunday, January 9, 2011

Mercenary Trader Wonders if China Has Reached the Skyscraper Indicator

A somewhat off-beat measure of a market peak.

Weekender: Did China Just Ring a Bell?
As the above graphic shows, for some time the world’s tallest building has been the Burj Khalifa in Dubai, opened in January 2010.
So getting back to the bell ringing, I give you “China plans $1.3 bn seven star hotel:”
Beijing authorities plan to build a “seven-star hotel” modelled after Dubai’s Burj Khalifa — the world’s tallest building — in a $1.3 billion joint project with Saudi Arabia.
The hotel will be erected in western Beijing’s Mentougou district some 30 kilometres (18 miles) from the Chinese capital’s centre, the state-run Beijing Morning Post said in a Thursday report, quoting a local parliamentary meeting…
Classic isn’t it?

Dubai X 1000 indeed. It was supposed to be a warning, not a cookbook.

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