What A Bank Run In China Looks Like: Hundreds Rush To Banks Following Solvency Rumors | Zero Hedge
Curious what the real, and not pre-spun for public consumption,
sentiment on the ground is in a China (where the housing bubble has
already popped and the severe contraction in credit is forcing the ultra
wealthy to luxury real estate in places like Hong Kong) from the perspective of the common man? The photo below, which
shows hundreds of people rushing today to withdraw money from branches
of two small Chinese banks after rumors spread about solvency at one of
them, are sufficiently informative about just how jittery
ordinary Chinese have become in recent days, and reflect the growing
anxiety among investors as regulators signal greater tolerance for
credit defaults.
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