Bank runs are not a new phenomena, inherently they are the product of Western finance, of which one of the mainstays is the use of fractional-reserve banking.
Fractional-reserve banking is the practice where banks only hold a fraction of their deposits in reserve, and use the remainder as capitol for loans - supposedly an important function that allows for the expansion of economies. Though universally accepted across the globe as a part of modern banking, fractional-reserve banking is no more than fraud and theft.
Banks historically began as money warehouses. Whereby customers …

Washington Consensus criticised state intervention by the East Asian economies as their currencies, assets and economies collapsed one after the other in the now infamous Asian financial crisis in 1997.