CHENGDU/WUHAN, China (Reuters) - When China announced a nearly $600 billion package to ward off the 2008 global financial crisis, city planners across the country happily embarked on a frenzy of infrastructure projects, some of them of arguable need. Chengdu, the capital of southwestern Sichuan province, answered the call for stimulus action with a bold plan for a railway hub modeled after Waterloo railway station in London. Except London's Waterloo was not ambitious enough. > China's local governments have piled up a mountain of bad debt, some of it to finance bridges to nowhere and other white elephant projects, which...