There’s a major banking crisis unfolding in China
by IWB
Simon Black
The Chinese government isn’t exactly famous for its honesty and transparency.
So when the Chinese regulators are starting to openly report trouble in their banking system, it’s time to take notice.
According to the People’s Bank of China (PBOC)’s “2019 China Financial Stability Report,” 586 out of 4,379 Chinese lenders were officially deemed to be “high risk”.
But that overall figure, bad as it is, may be masking the true extent of the problem.
According to the same report, over one third of rural lenders are deemed to be “high risk.” One in three banks in rural China. Hmmm.
And this lack of confidence is beginning to cause bank runs.
Read more
According to the People’s Bank of China (PBOC)’s “2019 China Financial Stability Report,” 586 out of 4,379 Chinese lenders were officially deemed to be “high risk”.
But that overall figure, bad as it is, may be masking the true extent of the problem.
According to the same report, over one third of rural lenders are deemed to be “high risk.” One in three banks in rural China. Hmmm.
And this lack of confidence is beginning to cause bank runs.
Read more
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