Dubai in the United Arab Emirates is where the last signal was given by the Skyscraper Index. In August of 2007 it gave a “sell signal” for a global economic crisis when the Dubai Tower surpassed the previous record height for a skyscraper. It seems not only the signal but the impact of the crisis is now being felt there. Bloomberg reports that the Dubai Fund which is the city-state’s sovereign wealth fund is in serious financial trouble.
My original article on Skyscrapers and Business Cycles is here.