China's Much-Touted Economic Model Is Broken

China's Much-Touted Economic Model Is Broken
Host photo agency/RIA Novosti Pool Photo via AP

The horrific explosions at the industrial port city of Tianjin and China's imploding economy show the government at its worst. China's highly touted "model" is broken and faces its day of reckoning.

At last count, Wednesday's explosions in Tianjin had killed 50, including 12 firefighters. More than 500 people were hospitalized, 71 in critical condition, according to CNN. Dozens of people were missing.

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