Remember the Silk Road of ancient times? China is looking to recreate and modernize the overland trade route. One Belt, One Road is the what they are calling it, and the plan is to connect Asia, Europe, the Middle East and Africa via a vast network of roads, ports, railways and airports. There are even plans to include fiber optic lines and electrical grids. Quite an ambitious plan, but then the country’s development bank has reserved $890B for more than 900 infrastructure projects.
Chinese officials have reconsidered their “mosquito eradication” mandate for ALL cargo leaving the US destined for China. Instead, Chinese authorities have limited the requirement to vessels and containers originating in Florida, which is the state most affected by the Zika virus.
Good news for California’s agriculture commodities, which are on the cusp of the new-crop shipping season.
As evidenced by the video below, the city of Tianjin, China was rocked by explosions at a chemical warehouse near the Port of Tianjin. The blast was equivalent to a 21 ton bomb. 116 people lost their lives in the explosion, more than 700 were injured and 60 are still missing.
Sodium cynanide was also stored at the warehouse and has leached into nearby residential neighborhoods as well as harbor waters. Despite claims by the government that drinking water was safe, workers were seen scooping thousands of dead fish from the Haihe River near Tianjin.
Since the explosion, Chinese officials have inspected, put on notice and closed several chemical facilities in the country.