View: https://mobile.twitter.com/WallStreetSilv/status/1549790086656581640?fbclid=IwAR3G3bjKKtmVtgqMPoBhNKWI-7sCZKg3it5lRtWKk4S10gixyiOLtBEM6GQ
does this change your sentiments regarding "paperless business" as is common in China?
Society China rolls out tanks to protect banks
- Thread starter Filthy
- Start date
View: https://mobile.twitter.com/WallStreetSilv/status/1549790086656581640?fbclid=IwAR3G3bjKKtmVtgqMPoBhNKWI-7sCZKg3it5lRtWKk4S10gixyiOLtBEM6GQ
does this change your sentiments regarding "paperless business" as is common in China?
Who wants to live there?
A little back story for this...
Hundreds of bank depositors in Henan province have been increasingly restive about their accounts being frozen, demanding that provincial authorities help recover savings from at least four small “village” banks. Many small banks in recent years attempted to compete with larger institutions by offering higher interest rates and signing up depositors online from far and wide. The four Henan banks stopped withdrawals April 18. The China Banking and Insurance Regulatory Commission has said a major shareholder of the village banks, Henan New Fortune, was under investigation for financial crimes in the way it raised funds.
Unable to retrieve their money, depositors started to protest online and in person. On May 23, protests broke out before security services stopped them. The leaders of China’s party-state system, obsessed with maintaining social “stability,” reacted with alarm. In June, many jilted depositors from around the country planned to converge on the capital of Henan province, Zhengzhou, in hopes of getting their money back. But before they could travel, they were blocked by software that the government uses to control the spread of covid. The green code on their phones turned red. They could not travel.
Hundreds of bank depositors in Henan province have been increasingly restive about their accounts being frozen, demanding that provincial authorities help recover savings from at least four small “village” banks. Many small banks in recent years attempted to compete with larger institutions by offering higher interest rates and signing up depositors online from far and wide. The four Henan banks stopped withdrawals April 18. The China Banking and Insurance Regulatory Commission has said a major shareholder of the village banks, Henan New Fortune, was under investigation for financial crimes in the way it raised funds.
Unable to retrieve their money, depositors started to protest online and in person. On May 23, protests broke out before security services stopped them. The leaders of China’s party-state system, obsessed with maintaining social “stability,” reacted with alarm. In June, many jilted depositors from around the country planned to converge on the capital of Henan province, Zhengzhou, in hopes of getting their money back. But before they could travel, they were blocked by software that the government uses to control the spread of covid. The green code on their phones turned red. They could not travel.
Well we have a thread on sherdog with a lot of dudes wanting to be ex pats and relocate to china they showed all the fancy buildings and things but did not mention any of the cons like the lack of free speech for example they even kidnapped a billionaire jack ma just imagine the U.S kidnapping a jeff Bezos or elon musk for what they say.