QUOTE(bai1101 @ Aug 13 2015, 09:12 AM)
Wonder will this incident effect current economy?
For people grappling with how big this is:
There will be a massive loss of life, as there are residential areas not too far from area of the explosion; that is besides a great number of people working at the port facilities.
But the economic implications may loom large as well:
Port of Tianjin is one of the largest ports in the world (top-10, arguably; depending on your metric)
it is massively damaged and won't be operating for quite a while (!); certainly well below capacity for months
cargo currently in port will have to be written off; cargo scheduled to leave the port ... forget about receiving it for a while; other ports in China will be able to deal with some priority cargo (containers, especially), but cannot handle all the cargo that was supposed to be shipped there (Tianjin preferentially handled non-container cargo, it was "only" the 9th largest container port in the world, but the 4th in tonnage)
there will likely be specific product bottlenecks, where other ports wont be able to pick up the slack due to lack of specialized facilities for bulk cargo (apparently coke, coal, oil, grain, fertilizer (!), chemicals, lubricants, ...; not all of these, but some)