Close Menu
World Economist – Global Markets, Finance & Economic Insights
  • Home
  • Economist Impact
    • Economist Intelligence
    • Finance & Economics
  • Business
  • Asia
  • China
  • Europe
  • Economy
  • USA
    • Middle East & Africa
    • Highlights
  • This week
  • World Economy
    • World News
What's Hot

Starbucks shows progress in its turnaround but is stuck in an unloved group

October 30, 2025

Ongoing exit process in Pakistan: Telenor Group reports first approval from CCP – Business & Finance

October 30, 2025

Hong Kong family offices launch US$100 million fund to tap international investors

October 30, 2025
Facebook X (Twitter) Instagram
Thursday, October 30
Facebook X (Twitter) Instagram
World Economist – Global Markets, Finance & Economic Insights
  • Home
  • Economist Impact
    • Economist Intelligence
    • Finance & Economics
  • Business
  • Asia
  • China
  • Europe
  • Economy
  • USA
    • Middle East & Africa
    • Highlights
  • This week
  • World Economy
    • World News
World Economist – Global Markets, Finance & Economic Insights
Home » ‘Unforgivable’: Chinese county still living in shadow of wild spending binge
Business

‘Unforgivable’: Chinese county still living in shadow of wild spending binge

adminBy adminOctober 29, 2025No Comments2 Mins Read
Share Facebook Twitter Pinterest Copy Link LinkedIn Tumblr Email VKontakte Telegram
Share
Facebook Twitter Pinterest Email Copy Link
Post Views: 6


Few areas of China reflect the country’s decades-long economic transformation more vividly than its cities. Rapid development has turned villages into dense urban landscapes and already sizeable metro areas into some of the world’s largest population centres. As the rate of urbanisation slows and the country transitions into a new economic era, we explore how select Chinese cities are navigating the change. Read the rest of our series here.

In a remote corner of China’s southwestern Guizhou province, hulking replicas of ancient Chinese city walls, Beijing’s Forbidden City and London’s Big Ben rise from the jagged karst landscape.

The town feels almost surreal: a blend of ruin and grandeur that defies logic. Half-built resorts and deserted monuments dot the skyline. Rows of crumbling storefronts and semi-demolished buildings stand like open wounds along the dusty main road.

Until recently, this community of just over 350,000 people nestled in the Guizhou mountains was largely unknown in China. But it is now famous across the country as a cautionary tale: a story of reckless investment on an epic scale.

In the 2010s, Dushan county – the area that administers the town – launched a vast construction spree as the impoverished region tried to transform itself into a culture and tourism hub. Grandiose hotels, shopping malls, pavilions, apartment complexes and even a sprawling university hub all sprang up within just a few years.

But the boom was built on debt – masses of debt. By 2018, the county owed around 40 billion yuan (US$5.6 billion), a staggering sum for a region whose annual fiscal revenues barely reached 1 billion yuan. The money ran out soon after, leaving the landscape littered with decaying, abandoned vanity projects.

Locals in Dushan are still dealing with the fallout years later. The county government remains weighed down by debt repayments. Many of the ambitious projects never opened. Income levels remain low: urban residents had just over 42,500 yuan of annual disposable income on average in 2024, while rural residents had less than 17,500 yuan.



Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email Telegram Copy Link
admin
  • Website

Related Posts

Business

Hong Kong family offices launch US$100 million fund to tap international investors

October 30, 2025
Business

Developing | Hong Kong follows US in quarter-point interest rate cut to reduce loans cost for borrowers

October 29, 2025
Business

Solana event in China cut short as Beijing’s stablecoin warning sparks unease

October 29, 2025
Business

Binance founder CZ rejects ‘nonsense’ report ranking him as China’s 13th richest person

October 29, 2025
Business

Nvidia CEO pins hopes on China comeback as Trump raises Blackwell chip talks with Xi

October 29, 2025
Business

Billionaire boom: ultra-wealthy in China, Hong Kong regain momentum on tech wave, stimulus

October 29, 2025
Add A Comment
Leave A Reply Cancel Reply

Editors Picks

Ongoing exit process in Pakistan: Telenor Group reports first approval from CCP – Business & Finance

October 30, 2025

Fed lowers rates, nods to limits of data during shutdown; two policymakers dissent – Markets

October 29, 2025

Pakistan Customs seizes millions in smuggled silver – Business & Finance

October 29, 2025

Ghani Global Holdings plans to invest Rs500mn in new transportation unit – Business & Finance

October 29, 2025
Latest Posts

PSX hits all-time high as proposed ‘neutral-to-positive’ budget well-received by investors – Business

June 11, 2025

Sindh govt to allocate funds for EV taxis, scooters in provincial budget: minister – Pakistan

June 11, 2025

US, China reach deal to ease export curbs, keep tariff truce alive – World

June 11, 2025

Subscribe to News

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

Recent Posts

  • Starbucks shows progress in its turnaround but is stuck in an unloved group
  • Ongoing exit process in Pakistan: Telenor Group reports first approval from CCP – Business & Finance
  • Hong Kong family offices launch US$100 million fund to tap international investors
  • Japan’s PM wooed Trump with a charm offensive. Did she go too far?
  • Developing | Hong Kong follows US in quarter-point interest rate cut to reduce loans cost for borrowers

Recent Comments

No comments to show.

Welcome to World-Economist.com, your trusted source for in-depth analysis, expert insights, and the latest news on global finance and economics. Our mission is to provide readers with accurate, data-driven reports that shape the understanding of economic trends worldwide.

Latest Posts

Starbucks shows progress in its turnaround but is stuck in an unloved group

October 30, 2025

Ongoing exit process in Pakistan: Telenor Group reports first approval from CCP – Business & Finance

October 30, 2025

Hong Kong family offices launch US$100 million fund to tap international investors

October 30, 2025

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

Archives

  • October 2025
  • September 2025
  • August 2025
  • July 2025
  • June 2025
  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • June 2024
  • October 2022
  • March 2022
  • July 2021
  • February 2021
  • January 2021
  • November 2019
  • April 2011
  • January 2011
  • December 2007
  • July 2007

Categories

  • AI & Tech
  • Asia
  • Banking
  • Business
  • Business
  • China
  • Climate
  • Computing
  • Economist Impact
  • Economist Intelligence
  • Economy
  • Editor's Choice
  • Europe
  • Europe
  • Featured
  • Featured Business
  • Featured Climate
  • Featured Health
  • Featured Science & Tech
  • Featured Travel
  • Finance & Economics
  • Health
  • Highlights
  • Markets
  • Middle East
  • Middle East & Africa
  • Middle East News
  • Most Viewed News
  • News Highlights
  • Other News
  • Politics
  • Russia
  • Science
  • Science & Tech
  • Social
  • Space Science
  • Sports
  • Sports Roundup
  • Tech
  • This week
  • Top Featured
  • Travel
  • Trending Posts
  • Ukraine Conflict
  • Uncategorized
  • US Politics
  • USA
  • World
  • World & Politics
  • World Economy
  • World News
© 2025 world-economist. Designed by world-economist.
  • Home
  • About Us
  • Advertise With Us
  • Contact Us
  • DMCA
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.