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China's 4000 banks have become poor:
China is passing through a period of severe economic crisis. Its economy has collapsed. Thousands of people have become poor. People are protesting violently. Banks' websites and computer systems are closed. The communist security forces are showering sticks, and bullets on the crowd coming to collect money from the banks. Before Pakistan, it seems that China has become a pauper.
The situation in Henan province of China has become like Sri Lanka. The truth of China, which is showing arrogance to the world, has now come to the fore. China's 4000 banks have become poor. These banks in China have no money left to give to their account holders. China's economy has derailed. The bank crisis in China is going on not just now but since last April. Now if the dam of the patience of the people of China has been broken.
The state of China has frozen millions of accounts since July to save banks from closure. This means that the Communist government of China has banned the withdrawal of money from banks. After this move of the Chinese company government, widespread protests have started against the bank and the company government in many cities.
According to a sensational report by CNN, 4000 small and big
banks in China reached the verge of closure. Millions of crores of rupees of
the hard-earned money of more than 4 lakh account holders were drowned. That
is, people do not withdraw any more money, so banks also closed their computer
systems. Banks' website has been shut down.
Seeing reports of snatching of antigovernmental news in
Chinese local media for the first time has also encouraged the local media of
China. A Chinese magazine has written in a report that 4 lakh account holders
are unable to withdraw money from their bank accounts. Every time a message is
sent to the account holders from the bank that the maintenance work is going on
in the bank.
People troubled by this banking crisis in China are facing a difficult situation. Angry people have also started protesting by depositing in front of the bank. A large number of people have gathered in front of the Zhengzhou branch of the People's Bank of China and the demonstration of people continuously demanding to withdraw their money is getting furious day by day.
The same Chinese government started driving away the protesting account holders from there. People demanding their deposits outside the bank have been beaten up. There has been a clash between the police and the protesting people. Banks have banned withdrawing money from the bank for the last three months. The people there are not even able to withdraw their deposits.
Chinese President Xi Jinping has instructed to hide the fact
that four thousand banks are bankrupt and to deal strictly with the people
standing in front of the bank account holders. As a result of this, Chinese
security forces used heavy force on thousands of account holders in many cities
of Henan province.
It has been reported that the demonstrations of account
holders in China are becoming violent. How many people have been injured in
these demonstrations, this information has not been received, but the news is
coming that the Chinese company government is wreaking havoc on the
bankruptcies of the banks and those who show and tell the news of the
demonstrations of the people.
Is China going through an economic crisis?
The economic health of China, which describes itself as an
economic superpower, is getting worse now. Some economic experts are blaming
China's lending policy. China wants to expand its country and want to make
colonies all over the world. From Sri Lanka, and Pakistan to African countries,
China has spread its network of colonies.
But now his intention to make poor countries economic slaves
is overshadowing him. Many countries like Sri Lanka, and Pakistan to whom China
has distributed loans openly, are not able to repay the money today. The
condition of those countries is such that even if China uses all its resources,
it will not be able to recover its tax.
According to New York-based research group Rhodium, only in
2020-21, China has paid a debt of $ 52 billion or about 4,15,000 crores in the
name of this project, which is unlikely to return. But the question is why such
a situation has arisen in front of China that the cities in its own country
have become a battleground today.
The reason for the uproar in Shandong and Henan province is
an order issued by the Chinese state bank, Bank of China, about two weeks ago,
regarding withdrawal from the bank account. After this order of the state-run
bank, people living in the state of Shandong and Henan were banned from
withdrawing money from their bank accounts.
Announcing the ban, the Bank of China declared the savings of millions of people as investments. Which people were surrounded by the banks the fear of drowning their lifetime earnings. Then four banks of the state of Henan and only one bank of the state told them to stop the withdrawal of money from the account. On which the anger of hundreds of Chinese citizens erupted.
Due to not being able to withdraw his own money from his account, he started protesting outside the banks. To suppress the Chinese government removed the policemen in plain clothes and then the Chinese army. The second biggest reason is the real estate sector in which the money of the banks is trapped. Many projects related to real estate are incomplete.
At present, more than 300 housing and commercial projects
are lying unfinished in 91 cities in China. 13 million i.e. about 1,30,00,000
flats were not fully completed. That is, more than ₹ 17,57,000 crore is stuck
in real estate. Which was given to real estate developers in the name of a loan
to donate. Lakhs of people are still unable to get houses due to the
non-completion of projects.
Angered by the lateness of real estate, people living in 24
out of 31 provinces of China is refused to pay EMI to banks. When the angry
people stopped repaying the loan, the interest received with it also sank. Due
to this, there was a shortage of capital in the banks. Because of this, a new
crisis arose in front of the bank.
People's Liberation Army tanks are running on the streets.
The purpose of landing these tanks is to scare the citizens of China who want
to withdraw their life's hard-earned money deposited in banks. But they are not
able to do this according to their wish.
Surgical Strike on Chinese Toys by India:
Surely toys make a beautiful world of innocent happiness for Childhood, but the truth is that due to them there is a big market in the world, and the good news is that now India has emerged as a big player in this market. This happiness is big because till a few years ago, most of the toys in India were imported from other countries, especially China.
But now the India's toy industry has stood on its feet. Toy imports have declined by 70% in the last three years and toy exports have grown by about 61% during the same period. This is a big success for the toy industry largely dependent on China and it has been possible because of the Central Government's Make in India campaign.
This change in the toy industry did not come overnight. To increase the production of toys in the country and start more and more startups, the Modi government churned. The policy adopted by the government for the development of the toy industry is now showing its benefits. India imports 90% of the toys from China, but now most of the toys are being made in India. The amazing thing is that the demand for toys made in India has increased in foreign countries.
Seeing India's potential in the toy market, the government took two important steps. First, the duty on foreign toys was increased. Small and medium-scale industries were encouraged. The government's strategy proved to be effective and its glimpse was seen recently at Pragati Maidan in Delhi, where people from many countries of the world were stunned to see new toys at the stalls of Indian startups.
In 2009, 90 out of 116 stalls were indigenous toys, but this year 96 were from India. To see a hundred percent made-in-India toys, the Dubai team came to India from the world through a foreign delegation. Bhutan's team came; these people got us all very good here. This will further increase India's exports.
Along with the development of the toy industry in the country, there is another motive as well. So far most of the toys have foreign imprints. The designer characters are also mostly foreign, but with the toy industry going strong. It can be expected that now they will also be Indianized.
If toys are made in the country, then there should be an impression of Indian
culture on them. There are immense employment opportunities in the toy industry
in India and the best thing is that with them, the general i.e. local product is
going to get into the world market.
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