var path = require('path');
var SRC_DIR = path.join(__dirname, '/client/src');
var DIST_DIR = path.join(__dirname, '/client/dist');

module.exports = {
  entry: `${SRC_DIR}/index.jsx`,
  output: {
    path: DIST_DIR,
    filename: 'bundle.js'
  },
  module : {
    loaders : [
      {
        test : /\.jsx?/,
        include : SRC_DIR,
        loader : 'babel-loader',
        query: {
          presets: ['react', 'es2015']
        }
      }
    ]
  },
  // watch: true
};

@@ -448,16 +448,107 @@
  %5D%0A  %7D,%0A
+  resolve: %7B%0A    modules: %5B%0A      path.resolve('./client'),%0A      'node_modules'%0A    %5D%0A  %7D%0A
   // wat

Add explicit resolve in webpack