China, the country we often refer to as the Ultimate Crony Capitalist State is in the midst of serious upheaval. Its stock market has been in precipitous decline, the government has devalued the currency, and now this, a truly massive explosion in a vitally important port city a stone’s throw from Beijing.
Initially reports were suppressed by the government but footage is hitting the broader world. So, in case you missed it, here it is.
This will have impact (so to speak) on the already tenuous Chinese economic situation. At this point that’s all we can say.