China’s cash crisis includes big state-owned banks and people are scared. Where has the money gone?
It’s becoming less safe to deposit cash in China’s banks. The entire banking system, including the big four state-owned banks, are now restricting withdrawals or online transactions. China is likely to …
It’s becoming less safe to deposit cash in China’s banks. The entire banking system, including the big four state-owned banks, are now restricting withdrawals or online transactions. China is likely to have a massive bank run which will collapse the banking and monetary system, thus further devastating the Chinese economy. This is Dandong, a city in Liaoning province, a major heavy industry province in northeast China, where people have been waiting in long lines at banks almost every day recently, hoping
