Financial Crisis In China, 5 Banks Have Failed The PBOC Warns 586 Banks Are Considered High Risk (Video)
Financial Crisis In China, 5 Banks Have Failed The PBOC Warns 586 Banks Are Considered High Risk Video by Silver Report
A financial Crisis is ynfolding in the worlds largest banking sector, The bank failures keep mounting in China. Today we will focus on the PBOC 2019 Financial Stability Report which revealed 586 banks are now considered ‘High Risk’ or on the verge of failure. This is a situation in which the next global financial criss may kick off in some rural village in China. Seriously the banking sector is the Largest In the world and many of these banks are heavily dependent on deposits so have been forced to offer unearthly high interest rates just to keep depositors parking their money. The problem is how can an already insolvent bank afford to pay all this high interest to customers…. They can’t. Also we look at the Nation’s tallest skyscraper which was under construction has been halted as the developer missed a “significant” payment. The largest property developer in China actually equally bad news.