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2 hours ago, crazypabs said:

Apologies if already discussed. Apparently the Chinese Banking system is feeling very fragile atm.

A Spate of Bank Runs Breaks Out in China, Fueled by Social Media

https://www.bloomberg.com/news/articles/2020-07-14/spate-of-china-bank-runs-force-police-regulators-to-act

If you Google "China bank runs" most of the media seems to be Bloomberg media, strange that.

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17 minutes ago, Social Justice League said:

The banking system is finished as is western capitalism.

The Chinese banking system is the largest in the world, and unlike the Western system, it's all state-directed lending. What could possibly go wrong there?. 

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The Chinese might as well just pack it in and go back to the villages.

The USA, the UK and Europe don't want their cheap sh1te anymore.  I won't be buying anything with the crappy "Made In China" label anyway.  Saying that, I won't be buying anything at all from our p1sh hight street, when the 'masks of death' arrives on Friday.

I will never go into a shopping centre again.  I'll make an execption for the odd supermarket trip in between online orders.

That's it.  The high street and China can burn in their own golden shower for all I care.

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3 hours ago, crazypabs said:

A Spate of Bank Runs Breaks Out in China, Fueled by Social Media

I always wondered, when I heard that China had imposed a 'lockdown' on ~70 million people, if the reason for this was to prevent bank runs.

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30 minutes ago, A.steve said:

I always wondered, when I heard that China had imposed a 'lockdown' on ~70 million people, if the reason for this was to prevent bank runs.

mmmmmmm...interesting slant on the covid situation!

 

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38 minutes ago, Social Justice League said:

And forget going to Chinese takeaways to order butchered Shep Fried Rice.  Fook that sh1t.

Have you stopped purchasing Chinese take away food? 

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It is strange that we hear so little about the Chinese economy atm. Demand from the West has collapsed, and people are trying to stop buying Chinese garbage (although since just about everything is made in China or has components made in China that is very hard). Given the huge amount debt in the Chinese shadow banking system, it really can only be a matter of time before it implodes. Could this be the biggest domino to fall in the COVID black swan event? Also, I guess the big question is how much the state would be able to stop it? In the West we have the corrupt CBs propping everything up and creating zombie banks (2008) and now zombie corporations (Fed corporate bond purchase program). In China they can do just what the heck they want.

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18 minutes ago, HovelinHove said:

It is strange that we hear so little about the Chinese economy atm. Demand from the West has collapsed, and people are trying to stop buying Chinese garbage (although since just about everything is made in China or has components made in China that is very hard). Given the huge amount debt in the Chinese shadow banking system, it really can only be a matter of time before it implodes. Could this be the biggest domino to fall in the COVID black swan event? Also, I guess the big question is how much the state would be able to stop it? In the West we have the corrupt CBs propping everything up and creating zombie banks (2008) and now zombie corporations (Fed corporate bond purchase program). In China they can do just what the heck they want.

They can in so far as so could the USSR.

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  • 417 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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