$3T Bad Loan Collapse! A Quarter of China’s Banks Vanish Overnight—Economist: “Economy Has Stalled”
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Videos about failed withdrawals and bank closures are becoming more common on mainland China’s social media platforms. Observers say some industry insiders may have heard about the risks last year and are subtly warning the public about possible widespread bank failures. Authorities may also recognize that the trend cannot be reversed and allow these messages to spread to prepare people psychologically.
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