The Chinese economy is experiencing a near-complete collapse…

Bank runs spread to Australia as fallout from China’s Henan province crisis

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  • Massive queues have been seen this week outside the Bank of China in Sydney
  • Hundreds of people have waited to make transactions at Haymarket branch
  • Many believe it is a response to five Chinese banks being frozen after fraud
  • Conglomerate from Henan region manipulated banks into stealing money 
  • Customers likely worried about losing their funds amid run on banks in China
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