China Banks Refuse Withdraws with Brute Force

July 12, 2022
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How it started 

Since April, four banks in China have frozen millions of dollars worth of deposits. These banks offered high rates of return and had hundreds of thousands of people’s life savings. 

What's going on 

A large protest in China’s central Henan province broke out on July 10th. Protestors were met by police and a group of “unidentified men.” These unidentified men wore white shirts and quickly started attacking the protestors and were seen on footage shoving and pelting them. Taking people’s entire life savings wasn’t enough for these banks; they also wanted capitalism to punch you. 

Why it matters 

Protestors fear their money to be gone forever. They were met with extreme violence as they peacefully demanded their money back. Many business owners in China will be left without the funds to pay their employees, and many regular-day people will be left without food. 

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