Liupanshui
Prefecture-level city in western Guizhou, China. The pin is the municipal government.
At a glance
| Source | Author | Role | In one line |
|---|---|---|---|
| Breakneck | Dan Wang | subject | A party secretary’s vanity projects and $21 billion of debt. |
Breakneck — Dan Wang (2025)
Source: Readwise highlight
Financial inquisitors found something in Liupanshui, the westernmost city in Guizhou, home to the world’s highest bridge.
- Role: subject
- In the book: Party secretary Li Zaiyong backed tourism projects including fake European squares, a ski lift and snow machines; none succeeded, the city ran up some $21 billion of debt, and Li was sentenced to death with a reprieve.
- Why it matters: A cautionary case of how the political system rewards vanity construction.