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China launches test runs for world’s largest plant that can convert coal to ethanol (www.scmp.com)

submitted 10 months ago by L4s@lemmy.world 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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[–] umbrella@lemmy.ml -1 points 10 months ago* (last edited 10 months ago) (1 children)

i have the feeling im the one talking to a brick wall.

would you rather pay rent to a banker for the rest of your life? flooding the market is a sound strategy to make cheap housing.

[–] falkerie71@sh.itjust.works 1 points 10 months ago (1 children)

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".

[–] umbrella@lemmy.ml 0 points 10 months ago* (last edited 10 months ago) (1 children)

oh, they are building cities to scam everyone out of money and destroy their own country, as if they didnt print it like crazy already. it all makes sense.

thats a very intelligent strawman right here. great argument, bro.

[–] falkerie71@sh.itjust.works 1 points 10 months ago* (last edited 10 months 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