Chinese Banks are troubled. There have been at least six bank runs since mid-April

Chinese Collapse: Run on Banks in China as Country’s Economy Diminishes

China really tries hard to portray herself as a global power. In a sense, they really are. They are one of the largest countries in the world and the largest as far as population. Because of their tyrannical communist government, they have been able to land the businesses from around the world because they can oppress their own people by forcing them to work for less.

Youtube channel Zai Ye Shuo posted a video stating that on June 17, many people lined up outside Dandong bank waiting to withdraw their money. The channel wrote, “Done! Bank can’t withdraw money! There was a run on a bank in Dandong, Liaoning, and a thunderstorm on the banks of Henan village caused panic.”

The second-most fundamental problem is that China is carrying a staggering load of debt. The Bank of International Settlements estimated that the country’s debt was equal to about 290% of gross domestic product in late 2020, and there has subsequently been a rapid accumulation of indebtedness, during the pandemic. When adding the so-called “hidden debt” and deflating GDP to minimize the effect of inflated official reporting, the country’s ratio is now around 350%.

To give you a visual of the run on the bank--