Why Chinese can’t get their money back from banks

Updated: July 30, 2022, 8:34 AM IST

Several local banks in China have had to freeze withdrawals to prevent a bank run, with a large number of depositors, fearing that their bank will not be able to repay their deposits in full and on time, trying to withdraw their funds at the same time. . They had systemic problems exacerbating the Covid-19 pandemic and a real estate crisis. Some experts liken the situation to the bursting of the US housing bubble that triggered the 2008 financial crisis.
Code red to crush protests

Leave a Comment

Your email address will not be published.