Do you have any concern about deposits in the bank? Are they safe?
A report from the Epoch Times has suggested that a bank run in China has taken place. This isn’t the first time this has happened in China and certainly won’t be the last. What is most important about this report is that it doesn’t even matter if the underlying issue is valid. The banks don’t have enough money to give everyone their deposits back. They literally took everything from you and have no intention on ever giving people all of their money back.
In sign of financial stress, gossips cause a rare bank run in China | South China Morning Post
Bank Run in Southwestern Chinese City Could Signal a Broader Financial Crisis
Bank Run in Southwestern Chinese City Could Signal a Broader Financial Crisis
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www.theepochtimes.com/assets/uploads/2018/11/06/bank-of-zigong-sichuan-china-crisis-600×400.jpg
In sign of financial stress, gossips cause a rare bank run in China | South China Morning Post
One in 10 of China’s Banks Flunk PBOC’s First Risk-Rating Test – Bloomberg
Economic Watch: China’s RRR cut to increase support for real economy – Xinhua | English.news.cn
www.xinhuanet.com/english/2018-10/16/c_137536509.htm
Lost in transmission: China’s small firms get more loans on paper but not in reality | Reuters