The harbinger of trouble - the mass construction of skyscrapers. Part 2

A "big construction bubble" is currently being inflated in China.

124 skyscrapers are currently being built in the world, of which 53 percent are in China. In the future, the Celestial Empire will take 87 percent of global skyscraper construction.
About 80 percent of new buildings are being built in two, three cities in the Zhujiang and Yangtze River deltas, "evidence of an expanding construction bubble," according to Barclays.
Lawrence, the lead author of the report, noted that China's real estate market is already unstable. The number of residential real estate sales in Beijing and Shanghai is down 40TP3T to 50%, and prices are down 5% to 20%, he said.
India, which has only two skyscrapers but is building 14 more, has ambitious goals: to build the second tallest building in the world, the Towers of India, in Mumbai.
Cheap credit in India, many of it related to real estate, rose nearly a third in the first half of this fiscal year, and more than tripled in the past year, according to the Reserve Bank of India.
"If history turns out to be right, the construction boom in China and India may be a reflection of inefficient capital allocation, which could lead to an economic recession in Asia's two largest economies in the next five years," Barclays concluded.

Based on foreign press for ForTrader.org