Economic Collapse News - Bank Runs In China Bring's Bank To Edge Of Collapse, PMI Plummets

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Economic collapse news, November 1, 2019
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First we begin with the bank runs that have broken out in China at Yichuan Rural Commercial Bank. Tremendous effort has been expended to try an reinstate calm after thousands lined up to withdraw their money. This is the 4th Bank that has now come close to failure and it appears the Bank will soon undergo a takeover. No official announcement has been made but steps have already been taken in the failed bank resolution process. There was even reports that pallets of cash were displayed in the bank windows to try to restore confidence. The Bank run continued. We also see their PMI dramatically missed expectations falling deep into contraction.
Category
Money in the bank

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