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China launches test runs for world’s largest plant that can convert coal to ethanol (www.scmp.com)
submitted 2 years ago by [M, B] to c/technology@lemmy.world
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China launches test runs for world’s largest plant that can convert coal to ethanol::undefined

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[–] 6 points 2 years ago (1 child)

They're not building apartments to give out to homeless people for free here. People actually had to pay for those properties and were scammed.

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  • [+] -3 points 2 years ago* (last edited 1 year ago) (1 child)
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  • [–] 0 points 2 years ago (2 children)

    Am I talking to a brick wall or what?

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  • [–] 2 points 2 years ago (1 child)

    You're playing pigeon chess my friend.

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  • [–] 2 points 2 years ago

    Maybe I am. Like, I won't pretend to be an expert, but the fact that they said "flooding the market with houses is a sound strategy" on one hand, and said it's a problem that requires a resolution on the other, just says to me that they don't know what they're talking about.

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  • [+] -2 points 2 years ago* (last edited 1 year ago) (1 child)
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  • [–] 1 point 2 years ago (1 child)

    Flooding the market with unfinished buildings? Are you on crack or something? You have to actually finish it to call it "housing". And again, those property were built to be sold, and they weren't going to undersell them. Leaving both the buyer and the constructor with no money is not called a "sound strategy".

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  • [+] -1 points 2 years ago* (last edited 1 year ago) (1 child)
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  • [–] 1 point 2 years ago* (last edited 2 years ago)

    Even if it's not done out of malice and it's purely out of ignorance, to the end user/buyer, what difference does it make? Investors and employees alike protested in front of Evergrande office regardless, and owners are still left without a complete home, or without one entirely.

    And are you really trying to give them a pass? A company so large they couldn't afford to make proper financial forecast and decisions? A country so powerful and literally has hands in private businesses, they couldn't see potential problems with it? Really? There were signs of a housing bubble since 2010!

    Surprise surprise, China did end up actually detaining the chairman of Evergrande and some of it's senior employees for misusing funds. Makes so much sense.

    More stuff to read:
    https://www.bbc.com/news/world-asia-china-66956769
    https://web.archive.org/web/20231229093805/https://www.nytimes.com/2023/12/05/business/china-evergrande-default-debt.html

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