China’s Government Bonds Widely Default, Tens of Thousands Lose Everything, Financial Tsunami Looms
China’s Government Bonds Widely Default, Tens of Thousands Lose Everything, Financial Tsunami Looms
Udumbara
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A major financial scandal has erupted in Xi’an, China. A government-affiliated bond service provider, Xi’an Jingwei Treasury Bonds, has defaulted on large volumes of national bonds. The failure to honor these bonds has sparked widespread panic among investors. Hundreds of affected investors have taken to the streets, staging protests outside government buildings in a desperate attempt to reclaim their funds. In this video, elderly investors are seen breaking down in tears upon learning their life savings have vanished.
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