Could world’s tallest building bring China to its knees?

Ramy Inocencio, for CNN
Updated 1:20 AM EDT, Tue August 6, 2013
World's Tallest Buildings Through HIstory —
China's Sky City, at 838 meters, will be the world's tallest skyscraper once completed in 2014. Developers held a ground-breaking ceremony on July 20, 2013.
China's Sky City, Hunan Province —
China's Sky City, at 838 meters, will be the world's tallest skyscraper once completed in 2014. Developers held a ground-breaking ceremony on July 20, 2013.
STR/AFP/Getty Images
The Burj Khalifa in Dubai is the world's tallest building at 828 meters. It received its spire in October 2009. Two months later, a massive debt crisis slammed the Middle Eastern metropolis.
Burj Khalifa, Dubai —
The Burj Khalifa in Dubai is the world's tallest building at 828 meters. It received its spire in October 2009. Two months later, a massive debt crisis slammed the Middle Eastern metropolis.
MARWAN NAAMANI/AFP/Getty Images
The Taipei 101 in Taiwan was completed in 2004 and held the "world's tallest" title -- at 508 meters -- for about six years. Its opening coincided with the bursting of the global tech bubble.
Taipei 101, Taiwan —
The Taipei 101 in Taiwan was completed in 2004 and held the "world's tallest" title -- at 508 meters -- for about six years. Its opening coincided with the bursting of the global tech bubble.
Taiwan Tourism
Malaysia's Petronas Towers, at 452 meters, was completed in 1998. The country's markets lost half their value by the end of 2007 as the Asian financial crisis roiled markets.
Petronas Towers, Kuala Lumpur, Malaysia —
Malaysia's Petronas Towers, at 452 meters, was completed in 1998. The country's markets lost half their value by the end of 2007 as the Asian financial crisis roiled markets.
AFP/Getty Images
Lightning strikes the Willis Tower -- formerly known as the Sears Tower when it was built in the 1970's -- in downtown Chicago. A recession hit the U.S. shortly after.
Willis Tower, Chicago, Illinois —
Lightning strikes the Willis Tower -- formerly known as the Sears Tower when it was built in the 1970's -- in downtown Chicago. A recession hit the U.S. shortly after.
Scott Olson/Getty Images
In this photograph from January 1976, the twin towers of New York's World Trade Center can be seen across the Hudson River. Its construction coincided with a U.S. recession in the year leading up to its 1970 completion.
World Trade Center, New York —
In this photograph from January 1976, the twin towers of New York's World Trade Center can be seen across the Hudson River. Its construction coincided with a U.S. recession in the year leading up to its 1970 completion.
Peter Keegan/Keystone/Getty Images
New York's Empire State Building (L), circa 1938, was the world's tallest building for nearly 40 years. It was nicknamed the "Empty State Building" as much of the building went unrented in its early years. In 1950, the now-iconic landmark finally started to turn a profit.
Empire State Building, New York —
New York's Empire State Building (L), circa 1938, was the world's tallest building for nearly 40 years. It was nicknamed the "Empty State Building" as much of the building went unrented in its early years. In 1950, the now-iconic landmark finally started to turn a profit.
Getty/File
Builders installed the spire on New York's Chrysler Building on October 23, 1929 making it the world's tallest building at 319 meters. Five days later, the Wall Street Crash wiped nearly 13% off the stock market and precipitated the country's Great Depression.
Chrysler Building, New York —
Builders installed the spire on New York's Chrysler Building on October 23, 1929 making it the world's tallest building at 319 meters. Five days later, the Wall Street Crash wiped nearly 13% off the stock market and precipitated the country's Great Depression.
Courtesy Biju Chandroth
Skyscraper Boom Heralds Economic Doom

Editor’s Note: One Square Meter explores the leading architectural designs, city plans and demand for property investment in emerging markets. Join CNN’s John Defterios as he visits some of the world’s most dynamic cities for an insight into the fast-paced world of real estate development. From December 17, watch the show on CNN every Tuesday during Global Exchange.

Story highlights

China's skyscraper boom to bring economic doom, if history is precedent

China's Sky City will be world's tallest building in 2014 at 838 meters, besting Burj Khalifa

Market crashes followed construction of Chrysler Building, Petronas Towers, Burj

CIMB's