An omen of crisis

Burj Khalifa or Dubai Tower - world's tallest 828meters, 162 floors

Lim Mun Fah

Although the Budget 2011 announced last Friday 15 October 2010 cannot obviously be absolutely perfect in the eyes of an average citizen, there are still some small surprises. However, I cannot understand what is the purpose of building a 100-storey tower? Just because the Petronas Twin Towers are well-known in foreign countries, does it mean we have another tower?

Indeed, many people were very proud of the Twin Towers when they were completed in 1998 and won the title of the world's tallest building. But the glorious title shined only for five years before it was taken over by the Taipei 101. The Taipei 101 did not keep it for long, too, as it was later surpassed by the Burj Dubai.

The puzzling phenomenon is, what is the reason for Asian countries to join in the competition of building the world's tallest building in the recent past decade? Is it meant for showing off? Is it because they are fond of grandiose? Is it because they wish to transform into an international metropolis? Or is it because they want to stimulus economic growth?

Obviously, stimulating economic growth is the strongest reason. But the actual effectiveness is a different matter. For example, when the construction of the most famous sky scrapper in history -- 102-storey Empire State Building in the US started in 1930, the US was in the midst of an economic downturn, and the project was regarded as a major project to save the country as it could increase job opportunities and divert the people's attention from the economic gloom.

The US was indeed able to walked out of the depression later, but instead of the Empire State Building, it was a series of reforms for the economic system introduced by President Franklin Delano Roosevelt that had succeeded it. In fact, the Empire State Building had carried the infamy of "Empty State Building" due to its low utility rate in the first decade after its construction was completed.

There is another strange phenomenon that must be mentioned here, namely the so-called "skyscraper curse". Those who advocate the idea argued that the completion of the World Trade Center in New York in 1970s was followed by the outbreak of an oil crisis, causing a global economic recession. In the 1990s, before the Petronas Twin Towers gained the title of the world's tallest building, Asia had been stricken by a massive financial turmoil, causing suffering to the region. In 2003, when Taipei 101 grabbed the title, Taiwan had been suffering from a decade-long economic downturn. In 2010, before the Burj Dubai was completed, Dubai had suffered a debt crisis scandal.

The Budget 2011 did not provide details of the 100-storey tower, and thus, we can only imagine its grand look. But haven't we felt the "chill" even before we have climbed up to the tower?

No matter whether it is the world's first or second, the glory shines only for a short time and never lasts long. If I am given the right to choose, instead of a grand skyscraper with unknown economic practicality, I would rather have a more practical high-speed rail system connecting the north and the south of the peninsula. - Sin Chew Daily