China and liquidity

I woke up to the news of the Chinese government squashing a group of protestors who are attempting to get their life savings out of their bank. It appears that some Chinese banks are going through a liquidity crisis and have resorted to freezing accounts. On the surface, this seems like a terrifying prospect and perhaps a sign of a worsening economy.

China is already dealing with strict government mandated lockdowns. I can only imagine the plight of the Chinese now that there is a potential liquidity crisis looming. I don’t know how this all ends, but I’m hoping it’s resolved soon.

All this stuff scares the living shit out of me. I can only imagine what it’s like to have your life savings locked up with no way to retrieve it. It’s a stark reminder that I need to do a better job saving in this market. All this could get a whole lot worse.