World Financial Center Research Articles

Structural Design of Shanghai Tower for Wind Loads

Nearby Jin Mao tower and the World Financial Center, the 632-meter, 121-story mixed-use Shanghai tower will be the tallest super tall tower in the new Lujiazui Finance and Trade Zone of Shanghai. Due to the super tall height, curved façade and spiraling form of the Shanghai tower project, wind is the dominant lateral load and governed many aspects of the structural design. To precisely determine the design wind loads, a detailed wind climate study was conducted. The influences of typhoon events and typhoon profiles were considered in the wind climate study. Due to its long structural period, the across-wind load of the Shanghai tower project is prominent. Aerodynamic optimization studies were conducted to reduce the correlation of vortex shedding along the building height, and thus reduce the across-wind building response. The optimization results show that the across wind load can be effectively reduced with certain building configuration. Detailed wind tunnel studies, including HFFB and HFPI studies, high Reynolds number tests and aeroelastic model tests, were conducted to accurately capture the wind load on the building. The wind load parameters, such as the Shape factor, Strouhal number and the terrain type, were obtained and derived from the wind tunnel studies. The wind load and wind induced structural responses obtained from the wind tunnel studies were then compared with those calculated based on Chinese load code. The design criteria for the ultimate limit check and serviceability limit check of Shanghai tower for wind loads were discussed. Finally, the building vibration under wind load and the related human comfort problem is addressed. Different human comfort criteria are compared and the building acceleration results from both the wind tunnel tests and code-based calculation are discussed.

Research and Practice of Response Control for Tall Buildings in Mainland China

In the recent two decades a large amount of tall buildings have been constructed in Mainland China, offering goodv opportunities of research and practice for Chinese researchers and practioners in the field of structural engineering. Some research and practice achievements of response control for tall buildings in Mainland China in recent five years are introduced here, focusing on the performance-based seismic analysis and design of code-exceeding tall building aiming to design structures with predictable seismic performance in the future earthquake, shaking table model tests on complex tall buildings to evaluate the seismic performance of structures and accordingly revise the structural design, and the application of structural control technologies to better protect tall buildings from winds and earthquakes. Some typical examples of practical application, such as application of active tuned mass dampers (ATMD) in Shanghai World Financial Center Tower and application of deformation-related with damping and stiffness dampers in Zhengda Himalaya Hotel, are presented.

Testing the Application of Heckscher-Ohlin Theorem to Contemporary Trade Between Malaysia and Singapore

Since members of the Association of Southeast Asian Nations (ASEAN) signed the ASEAN Free Trade Area agreement in 1992, trade between Singapore and Malaysia has continued to grow. Historically the economies of these two countries have had different characteristics, however, with Singapore known as a capital abundant country and a world financial center, while Malaysia has traditionally been relatively labor abundant and capital scarce. Because of this sharp contrast in their economies, one would expect that testing the Heckscher-Ohlin Theorem using trade data between Singapore and Malaysia would provide stark evidence of the H-O Theorem. That is to say that rather than find an exceptional case, as some past studies have done, this paper has attempted to find a country pair that seems to most closely resemble an idealized trade environment for the H-O Theorem. Thus, should a test find that the key hypotheses of the theory--namely that capital abundant countries export capital intensive goods, and labor abundant countries export labor intensive goods--are not evidenced in the data, then a serious re-evaluation of the theory may be necessary. The paper will first review past tests of the Heckscher-Ohlin Theorem to determine what relevant studies have been done to date. Following that, export data will be reviewed for several different sectors, dividing them up as either capital intensive or labor intensive. What we would expect is that Singapore is exporting capital intensive goods to Malaysia, and Malaysia is exporting labor intensive goods to Singapore. Further, labor intensive exports will be analyzed as a proportion of capital intensive exports to determine how the labor/capital export ratio compares to the labor/capital abundance ratio for each country.

STUDY ON PERFORMANCE-BASED SEISMIC DESIGN OF SHANGHAI WORLD FINANCIAL CENTER TOWER

The height of 101-storey Shanghai World Financial Center Tower is 492 m above ground. According to the philosophy of performance-based seismic design, the seismic performance design objectives and corresponding parameters were proposed for the structure under various seismic actions from frequent to rare earthquake levels. Analytical studies including refined finite element analysis, nonlinear time-history analysis, and stress distribution analysis on the important joint have been conducted to evaluate the structural seismic performance. Along with the analytical studies, shaking table model test and the important joint tests have been carried on in order to verify the accuracies of the analytical results as well as to complement the analytical studies. The results obtained from the studies demonstrate that the structural system meets the performance-based design objectives presented in the paper.

Jinmao Tower and Shanghai World Financial Center, Shanghai, China

Jinmao Tower and Shanghai World Financial Center, Shanghai, China

Pelli Clarke Pelli

AbstractCesar Pelli is best known for dramatic skyscrapers, like the Petronas Towers in Kuala Lumpur, and big urban complexes with vast glazed interior spaces, like Canary Wharf and the World Financial Center in Battery Park City. But his renamed firm, Pelli Clarke Pelli Architects, is now doing major hospitals and research centres, museums and concert halls, apartment houses, numerous college buildings ‐ even airports. Jayne Merkel explains how he learnt to do memorable work of considerable complexity as she describes what Pelli Clarke Pelli is doing around the world. Copyright © 2008 John Wiley & Sons, Ltd.

Loving Your Enemy

Historically Speaking · May/June 2007 Loving Your Enemy Robert Tombs May/June 2007 Historically Speaking The 18th-century conflict caused a great divergence between Britain and France. The consequences are still with us. his army at Boulogne: "The Channel is a ditch," he said, "which will be crossed when someone has the boldness to try." But even Napoleon did not quite muster the boldness. So France did not achieve the world hegemony that in many ways it was better fitted than Britain to exercise. The economic consequences of the conflict were no less momentous. Between 1688 and 1815 Britain stood up to France—a country with twice its territory, twice its Gross National Product even in 1788, and three times its population—in six of the twelve greatest wars in history. It did so by raising taxes by 1 ,600% and increasing borrowing by 24,000%. The need for unprecedented sums of money led to the creation of the Bank of England (1694) and the transformation of the City of London , which funded the struggle, into the world's financial center. Three centuries later it is still described as the greatest concentration of brain and computing power on the planet and remainsthe bedrock of the British economy, making it the world's second largest exporter of services. The wars against France during the 18th century also permitted Britain to gain the lion's share of Europe's trade with the outside world. This trade was the dynamo of the Industrial Revolution. "Britain's economic progress cannot be separated from the establishment of its military hegemony," concludes a recent economic study. "Without the control of the seas the growth of the economy would have been limited and some other European power possibly become dominant." That "other European power," of course, was France. After Waterloo, the British had by far the highest per capita income in Europe: as with the United States in the 20th century , victory paid. France, too, was transformed by the gruelling struggle that began in 1688. Almost exactly one hundred years later, it, too, had its revolution. That revolution was linked with Britain in two ways. First, and most evidently, in its outbreak. The fall of the Bourbon monarchy was due to the unprecedented cost of the conflict with Britain, and especially the two global wars: the Seven Years War and the American War of Independence. The financial and political strain was more than the monarchy could bear. It could not raise taxes without political outcry, and it had reached the limit of its credit. By 1788 it was bankrupt. The absolutist monarchy had to appeal to its subjects to bail it out and summoned an Estates-General in 1789. This began an uncontrollable revolutionary process, which was connected with Britain in a second way. The nationalism of the revolutionaries became increasingly an Anglophobic nationalism. The Revolutionarywars, and those that followed under Napoleon, became increasingly what Napoleon called a "duel with England." It was war that created many of the horrors of the Revolution, and which also brought it to an end. But war also created the enduring patriotic vision of the People in Arms, so memorably expressed in the Marseillaise, whose words, including the great refrain "Aux armes, Citoyens! Formez vos bataillons!" were taken from anti-British patriotic poetry written a generation earlier. The "sang impur" that was to "abreuver nos sillons" was originally not that of the Prussians and Austrians in 1793, but that of Perfidious Albion in 1757. French patriots increasingly saw their own virtues as defined in contrast to the iniquities of the British (or rather lesAnglais). The idea of England as a new Carthage, a predatory mercantile state motivated only by greed, and which France had to resist in the name of higher values, became a staple of propaganda for generations and was still being used in the Second World War.Victor Hugo, writing in the 1840s, put it pithily:"If France overcomes, the world will be governed by the twenty-six letters of the alphabet; if England prevails, it will be tyrannized by the ten figures of arithmetic. Thinking or counting; those are the alternative futures." Has this idea entirely disappeared ? Does...

Shaking table model test on Shanghai World Financial Center Tower

AbstractThe height of 101‐storey Shanghai World Financial Center Tower is 492m above ground making it possible the tallest building in the world when completed. Three parallel structural systems including mega‐frame structure, reinforced concrete and braced steel services core and outrigger trusses, are combined to resist vertical and lateral loads. The building could be classified as a vertically irregular structure due to a number of stiffened and transfer stories in the building. Complexities related to structural system layout are mainly exhibited in the design of services core, mega‐diagonals and outrigger trusses. According to Chinese Code, the height 190 m of the building clearly exceeds the stipulated maximum height of for a composite frame/reinforced concrete core building. The aspect ratio of height to width also exceeds the stipulated limit of 7 for seismic design intensity 7. A 1/50 scaled model is made and tested on shaking table under a series of one and two‐dimensional base excitations with gradually increasing acceleration amplitudes. This paper presents the dynamic characteristics, the seismic responses and the failure mechanism of the structure. The test results demonstrate that the structural system is a good solution to withstand earthquakes. The inter‐storey drift and the overall behaviour meet the requirements of Chinese Design Code. Furthermore, weak positions under seldom‐occurred earthquakes of seismic design intensity 8 are found based on the visible damages on the testing model, and some corresponding suggestions are proposed for the engineering design of the structure under extremely strong earthquake. Copyright © 2006 John Wiley & Sons, Ltd.

Corporate trustees: a fresh look at the value-added for generational transitions

Corporate trustees: a fresh look at the value-added for generational transitions Barbara Hauser Barbara Hauser Private Client DepartmentCadwalader, Wickersham & Taft LLP, One World Financial Center, New York, NY 10021 Tel: + 507 254 9677 Fax: +507 529 8725 E-mail: Barbara.Hauser@cwt.comwww.cwt.com Search for other works by this author on: Oxford Academic Google Scholar Trusts & Trustees, Volume 12, Issue 3, February 2006, Pages 13–17, https://doi.org/10.1093/tandt/12.3.13 Published: 01 February 2006

Inventing Dollar Diplomacy: The Gilded-Age Origins of the Roosevelt Corollary to the Monroe Doctrine

This essay offers a new reading of the transition from the “uncertainty” and “improvisation” typical of late nineteenth-century U.S. foreign policy to the executive-driven, interventionist strategies of the early twentieth century.1 As Emily Rosenberg has persuasively argued, one key event in that transition occurred in 1905 with Theodore Roosevelt's creation of a customs receivership in the Dominican Republic. The Dominican intervention became the model for the new century's Dollar Diplomacy, based on a complex vision of the way that American policy-makers, working in harness with powerful bankers and economic experts, could remake tropical societies.2 Roosevelt's corollary to the Monroe Doctrine, an interventionist manifesto, provided a rationale for the new policy. Historians have identified many factors in the development of the aggressive foreign policies of the early twentieth century. These include the creation of a world-class navy after 1890, the growing importance of New York as a world financial center, the desire to end social conflict at home through trade expansion abroad, and the emergence of the United States as a colonial empire after the Spanish-Cuban-American War of 1898. To these underlying factors can be added several world events that encouraged Roosevelt, whose vigorous leadership style is almost palpable in Figure 1, to treat the Dominican crisis as a chance to project the United States as a Great Power, ready and able to solve disputes in the western hemisphere. Those events include the redeployment of the Royal Navy away from Latin America, the prospect of heightened imperial rivalry in Asia with Japan's likely victory in the Russo-Japanese War, and sharpened hostility among Britain, France, and Germany in North Africa and elsewhere.3 Finally, there were the trigger incidents that Roosevelt cited to justify the intervention, above all the threat of European intervention in the Dominican Republic and the chaotic political and economic conditions that kept the Caribbean republic from paying its foreign debt.4

September 11: Atrocity and the Human Spirit

An investment banker who was working in the World Trade Center at the time of the attacks, Mr. Glass, now a teacher, has finally figured out a way to discuss the event with his students. EIGHTEEN months or so before 9/11, I had begun taking graduate courses in education at night. After 25 years in the financial world, I was determined to become a social studies teacher before I turned 50. As a survivor of the attack on the World Trade Center who was about to enter the classroom as a teacher, I had many conflicting thoughts about the message I would share with my students. The need to put my thoughts on 9/11 into the form of a lesson kept tugging at me for more than a year. I tried many times, and just as many times I failed. For whatever reason, after a full year, the obstacles evaporated. I am now a teacher and am preparing a social studies lesson on 9/11. I plan to discuss with students what I believe are some important and, frankly, heartening messages that don't seem to get enough attention. Inevitably, we will have to discuss terrorism, but I will leave that lesson for another day. First, the survival instincts of the people who were physically involved in 9/11 were unbelievably strong. Yet, in what could be seen as a contradiction to our societal focus on the self, the survival instincts that day were focused on the group and were highly humanitarian. Exiting the WTC down crowded and smoke-filled flights of stairs, people stopped to help and comfort one another, carrying those who could no longer walk and giving articles of clothing to others to help cover wounds and shield eyes and lungs. All the while, the group kept moving. Immediately outside the towers, the need to comfort and help others overwhelmed the urge to evacuate the area quickly. I saw the same scenario reenacted as the collapse of the second tower chased me from the World Financial Centre boat basin north to Stuyvesant High School. People who couldn't run were being helped by those who were in better physical and emotional condition, regardless of the expanding cloud of debris that seemed about to engulf everything in its path. While all of these actions may be deemed small gestures of individual kindness and perhaps don't qualify as acts of high heroism, the lesson they can teach us and our students is that, in times of life- threatening crisis, human beings will put themselves and their own safety at risk to help one another. The mass chaos and panic that we see in movies and on television when, for example, aliens chase crowds through the streets thankfully exists only in fiction. In real life, the group experience of danger seems to protect, calm, and strengthen those who are experiencing it. …

The bank: the birth of Europe's Central Bank and the rebirth of Europe's power

The European Central Bank starts operations on January 1st 1999. As the independent bank which issues euro banknotes and controls European monetary policy, it is one of the key financial institutions of the world - symbol of Europe's ever closer financial and political union, and the seminal driving-force behind Europe's growing world power in politics and economics. EUROPE'S CENTRAL BANK provides a first-hand account, based on access to the key players, of the intrigues and in-fighting surrounding the creation of the Bank and the appointment of its first president, the German-backed Dutchman Wim Duisenberg. It provides a detailed analysis of the Bank's operations and prospects, and a rigorous examination of all the related issues of European and global power - financial, economic, and political - including the impact of the Bank on the City of London's future as a world financial centre.

The “End of Geography” in Financial Services? Local Embeddedness and Territorialization in the Interest Rate Swaps Industry

This paper provides evidence that the globalization of financial services has not undermined the importance of local embeddedness in world financial centers, among global banks. Using qualitative data from interviews with senior bankers in the interest rate swaps (derivatives) industry in Australia, in this paper I demonstrate the importance of spatial relationships and processes of local embeddedness in the production of swaps. Local embeddedness is attributable to the rapid exchange of financial information in formal dealing networks that serve as central information sources, enabling dealers to formulate a “market feel” that influences their dealing strategies. Information interpretation and decision making in dealing processes and specialist financial labor provide the foundations for the product-based learning orientation of swaps dealing. Dealing networks are underpinned by social relationships, requiring face-to-face interaction that is facilitated by spatial proximity. Although the global swaps industry is dominated by multinational banks, the centrality of these embedded networks impedes globalization in interest rate swaps dealing. The global swaps industry comprises an international network of highly localized but interconnected operations based in world financial centers.

American Express Survey of Business Travel Management. Roger H. Ballou and Judith Dettinger. American Express Travel Related Services Company, American Express Tower, World Financial Center, New York, N.Y. 10285-4110. 1986. 143p

American Express Survey of Business Travel Management. Roger H. Ballou and Judith Dettinger. American Express Travel Related Services Company, American Express Tower, World Financial Center, New York, N.Y. 10285-4110. 1986. 143p

Regional Development Financing

Regional development banks can serve as focal points for regional and subregional cooperation, thus promoting economic integration. They are institutions whose objectives are neither national nor global and whose leadership and staffs have a regional outlook.The first and immediate challenge confronting these regional development banks is the financing of regional projects which are beyond the reach of national development banks. The International Bank for Reconstruction and Development (IBRD) has devoted only limited resources to such project, with a few spectacular exceptions, especially the Indus River project. A purely national approach to planning and financing development does not make sense in most of Latin America and Africa because many nations on these continents are “minicountries,” too small to form economic units of development. Many national borders have been determined by political and diplomatic history rather than by economic factors; frequently, they cut across natural development units such as river basins or mineral deposits. Moreover, except in Europe, the very dearth of strong national institutions makes regional development banks important; they provide additional financial intermediaries to be interposed between the developing regions and the world financial centers, as well as between various national financial institutions of the member countries of the regions concerned.

New York as an international money market

The article summarises the ascent and structure of the financial market located in or connected to the city of New York. Due to the shift in the United States’ position from international debtor to creditor country after World War I, New York has arisen to leadership among world financial centres. JEL: G15, N22