Mon The Chinese banking sector has just imploded!

40 banks disappeared in less than a week! Small Chinese banks are falling one after the other. We are talking about 55,000 billion yuan of assets at risk (13% of the banking system)! 3,800 rural institutions are in difficulty. The problem is colossal! 40% non-performing loans in certain banks, massive exposure to the real estate crisis and large-scale fraud freezing Chinese withdrawals. China’s social stability is at stake. Beijing is panicking.