China’s skyscraper index literally crumbles

Readers will recall the Skyscraper Index, that colossal monument to human folly which so often predicts imminent recession for those that dare build to the heavens. In China, it is literally crumbling:

  • The US consulate has warned Americans to steer clear of a shaking Shenzon skyscraper.
  • There was no earthquake.
  • Shenzen has 297 buildings above 150m.

I am sure that many an Australian body corporate on the end of Chinese construction methods and materials can sympathise.

But the troubles of one dodgy tower pale into insignificance against what is transpiring for the wider Chinese ghost city developer market. As I have noted throughout this year, China’s “three-red lines” policy for major developer deleveraging has also crushed construction starts 10% below 2019 levels:

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