One of the few articles to report on what has been mentioned on WSB for a while: [There’s a run on Chinese banks and it’s being ignored by the world]( https://www.asiamarkets.com/chinese-banks-run/)

Lots of detail, but summed up with the below:

“The lack of reporting about the clear signs of a bank run in China is somewhat surprising.

As HSBC China’s Xuefang Liu puts it, “The rise of China as a global economic power has caused concern that a crisis in Chinese banking could lead to a worldwide downturn similar to the Global Financial Crisis.”

While many analysts believed China’s banking system was widely immune to the Evergrande Crisis, cracks are beginning to emerge and should this bank run intensify, already volatile global markets could be faced with a black swan event even more significant than Evergrande.”

What it doesn’t mention is lockdowns in Shanghai. It is very likely the reimposed lockdowns are to prevent runs on banks in Shanghai like they are seeing in rural areas of the country – IMO.