China's looking to one-up Elon Musk's hyperloop

The company announced on August 30

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its plans for an intercontinental hyperloop train with a top speed of over 2,300 miles per hour, or Mach 3.  For comparison, Elon Musk's initial proposal called for a 745 miles per hour hyperloop to connect Los Angeles to San Francisco. And the current fastest bullet trains, in Germany and China, have top speeds in the range of 180-215 miles per hour.

What makes CASIC think this is possible? For one, its got 150,000 employees. Last year it made $30 billion, with a profit of $1.5 billion. It's got the resources.