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Did China fire the bazooka to stop the big bank run?

If it takes a bazooka to stimulate the Chinese economy, it will also take a bazooka to end the banks’ run.

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Australia’s runaway big banks have dominated the ASX all year and were always going to take some stopping.

Three things could do it: a sharp spike in the unemployment rate and fears of a house price recession, the threat of further regulation and taxes, or China.

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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com

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    Original URL: https://www.afr.com/chanticleer/did-china-fire-the-bazooka-to-stop-the-big-bank-run-20240924-p5kcyh