Chinese bank run: Four Henan banks froze cash withdrawals

#TheOverseasExile #LeavingAustralia #davelister #ChinaBankRun #ChinaFinancialCollapse

China's implosion began as bank runs spread, and the depositors could not get their money out of the bank. China's economy is centrally managed, and the buck stops at the feet of the Chinese Communist Party.

In China, the rural banking crisis is building. Banks will repay some customers after mass protests. In April, banks froze millions of dollars worth of deposits. As per analysts, the Henan bank scandal is a political calamity brewing.

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