China: The Henan Bank Run and the Mass’ Struggle against Tyranny and Crisis
A slew of banking crises, struggles, and repression have recently rocked the rural areas of Henan province in China. Earlier in the year, several local banks declared that customers could no longer withdraw their own savings. The depositors quickly organised a struggle against the banks, which were aided and abetted by the CCP bureaucracy. Despite living under the most technologically advanced surveillance state in world history, the depositors’ protests soon escalated from economic to political demands and slogans. These unprecedented developments garnered widespread attention across China, as many workers and youth fear for their future amidst lockdowns and real estate crises that threaten to spill into other sectors of the economy.