Hey Guys,
It seems that most of our attention is clearly focused on what appears to be happening in the west. However, there are some really troubling developments taking place in China.
Over the past few weeks, there have been a number of runs on rural banks in the country. If this is the first time that you are hearing it, that's because it's by design. The government has been brutally supressing these protests / runs and have been censoring the news of it.
The reason that these are so troubling is because they are so much more than just a few simple bank runs. They are canaries in the coal mine of China's economy.
That's because trust in financial institutions is beginning to waver. Moreover, this is coming at a time when the Chinese property market is beginning to falter, and large developers are going bankrupt. Let's also not forget those draconian lockdowns that have left the economy with its lowest growth since the pandemic began.
Sounds like the perfect economic storm?
Well, strap in, because in my video today is going to give you everything you need to know about what is going on.
Enjoy!
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⛓️ 🔗 Useful Links 🔗 ⛓️
Twitter Thread on Crisis: https://twitter.com/liqian_ren/status…
Codes Turn Red: https://edition.cnn.com/2022/06/15/ch…
What's Behind The Runs: https://www.afr.com/companies/financi…
Rural Bank Runs: https://www.scmp.com/economy/china-ec…
Mortgage Strike: https://www.bloomberg.com/news/articl…
China Credit Crunch: https://www.bloomberg.com/graphics/ch…
China GDP Numbers: https://edition.cnn.com/2022/07/14/ec…
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📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
