Runs on banks, which is essentially the economic point of no return for a financial institution, have not happened very often in modern history, but when they do and are widespread, the fallout can last for years.

The U.S. experienced a massive bank run following the stock market crash of 1929 followed by the Great Depression. A few years earlier, in 1927, bank runs in Japan led to the collapse of dozens of institutions. There was a banking crisis in Myanmar in 2003 from which the country has never really fully recovered.

But unbeknownst to most is that there is a budding bank-run crisis now building in China as that country experiences a major economic and financial upheaval that is unparalleled in recent history, according to a report by Asia Markets:

Multiple sources contacted by Asia Markets, have confirmed deposits at the following six banks have been frozen since mid-April.

Yuzhou Xinminsheng Village Bank (located in Xuchang City, Henan Province)

Zhecheng Huanghuai Bank (City of Shangqui, Henan Province)

Shangcai Huimin Rural Bank (Zhumadian City, Henan Province)

New Oriental Village Bank (City of Kaifeng, Henan Province)

Huaihe River Village Bank (Bengbu City, Anhui Province)

Yixian County Village Bank (Huangshan City, Anhui Province)