BY: News Peddlers
Armoured tanks, were seen deployed on the streets of China
amid popular protests by people who took to the streets calling for the
release of their money that had been frozen by banks.
This was seen in a fresh video that went viral on the
internet recently. The Chinese People's Liberation Army's (PLA) tanks on
Wednesday rolled through the streets in a bid to frighten and disperse Henan
bank protestors.
It is important to point out here that clashes between Chinese police and depositors have been going on in the country's Henan province for the past weeks, with the latter
claiming they have been unable to withdraw their savings from banks since April
of this year, according to the local media reports.
The tanks were reportedly deployed on the streets to protect the
banks and keep the protestors from attacking them. The incident follows a
statement made by the Bank of China's Henan office that deposits made by
customers are "investment items" therefore, they cannot be withdrawn,
India Times reports.
A local media had reported that the authorities have said that they will begin releasing deposits of people
whose funds have been blocked by several rural banks following protests in
Henan's capital, Zhengzhou. However, according to non-mainstream media in
China, only a few depositors have received payouts, which raises the critical
question of whether banks have any extra cash.
Zheng Yuhuang, a professor at
Beijing's Tsinghua University, predicted in a video that 2022 will be a
challenging year for China.
According to Zheng, 4,60,000 businesses closed down in China in
the first half of the year, 3.1 million industrial and commercial households
were written off and enterprise liquidation increased by 23 per cent year on
year, ANI reported.
Adding further he said, 10.76 million college graduates have
entered the workforce under heavy employment pressure and 80 million young
people are still unemployed.