Jan 4 THE TALLEST BUILDING

Jan 4

THE TALLEST BUILDING

It's a sad day in Tapei. As of today, Jan 4th, the tallest building in the world, Tapei 101, is now the SECOND tallest in the world. This coveted distinction, once held by the Empire State Building for decades, now belongs to construction-crazed Dubai with the opening of the Badj Khalifa at 2,716 feet. The ceremonies were just as impressive as the building itself, complete with skydivers, massive crowds and 10,000 fireworks.

One can only guess that Dubai had wished the massive, multi-billion dollar project had been completed sooner. It was only last month that Dubai's financial woes were grabbing headlines. Oil-rich neighbor Abu Dhabi loaned Dubai $10 billion to stay afloat. And a decent amount went to payoff Dubai's new skyscraper and the accompanying festivities.

History often shows that cities that seek the all-important moniker of TALLEST BUILDING IN THE WORLD soon end up shifting funds elsewhere. New York City has ceased its pursuit as did Hong Kong, Shanghai and Malaysia. Tapei has no plans to raise the bar either. And it looks like Dubai is following suit as it comes to terms with its ravenous spending on frivolous construction projects. The only question is: Who will try to top Dubai?