The building in this picture is the swim center that's being built for the 2008 Beijing Olympics. The building is known as the "Watercube", and is constructed from transparent Teflon called ETFE that reacts with changes in light to create "stunning visual effects for both visitors to the Watercube and to millions of TV spectators".
Surprisingly, the design is quite energy efficient as well - the ETFE captures about 90% of the solar energy to heat the interior and pools. More info and pics available via Inhabitat.
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At first I thought it be completely filled with water!