Major state owned banks in China are insolvent. None of my relatives in Shenzhen can withdraw their savings

Major state owned banks in China are insolvent. None of my relatives in Shenzhen can withdraw their savings.

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qrd on what's happening?

Not my problem

see this is why you don't let the goys run the banks

global collapse

Duh.

uhhhh Xibros?

Problems when you've an autocratic government. Rural banks promised high rate of return which led people to deposit money, now those banks are going bad.

Its not really a "collapse" just that govt will offload some assets to make space for the loss to the people. China doesn't have a shortage of forex, and assets.

during the last major recession in 2008, china not only avoided the recession but grew rapidly
i wonder if this reverse is about to happen

>inb4 seething chinese defense force

According to the iron lazar the chinese is not goys

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Many sources indicate that China will grow by 3 digits this year

As much as I want China's power to be reduced, this isn't a collapse. Its a temporary hiccup. China doesn't really have a shortage of money or assets. $3T in reserves, highest in the world in addition to trade surplus, and stable macro indicators. If they go bad, you're going bad with them.

>None of my relatives in Shenzhen can withdraw their savings.
>tf
>tp

WTF XI JUST FLEW PAST MY HOUSE

If their real estate sector ends up collapsing (cue the 2 more weeks meme), then that would ruin China's economy because of how massive it is. It also wouldn't affect other countries that much since Chinese real estate firms have little foreign exposure.

They blew their money on russian oil and natural gas that will never be delivered and no one wants to hold the "futures", then they swept covid deaths under the rug so foreign investors built a couple million extra houses and got pissed and the food shortages are screwing them up because of the insane shut they did to their land they went from exporting 14% to importing 6% r under Xi reign. It's not a collapse just depopulation. Only 1.100 billiion can live in China now. More that simply cannot exist and survive.

go back

>be Chinese american
>Try to get my paycheck from the bank of CCP for spreading fentanyl in America
>Get denied
>Call bank
>Bank says they got 2 weeks before the whole Chinese economy collapses
Bros.....it's over

I thought a large percentage of China's GDP was in savings? Are you telling me this is grossly inflated?