Japan’s Recent Earthquake and Tsunami Devastates the People and the Economy

The earthquake and tsunami that recently struck Japan has caused substantial damage to its economy. This natural disaster has caused a huge sell off Asian stocks. With such a large crash in the stock market, The Bank of Japan has placed 183.8 billion into its economy in order to maintain liquidity, and this amount still hasn’t stopped the decline of the Japanese stock market. Along with the stock market fall, billions of dollars are also being spent to aid the vast search/rescue mission of providing water, shelter, and food to survivors. The Tokyo Electric Power Company has blacked out certain regions of Japan to conserve power, which has inhibited the use of subways and railways making it difficult for commuters to get to work. Many homes and businesses have been destroyed and it is going to take a lot of time and money to restore the damaged area.

Michael N. 

Sources: Ny Times | The Street

This entry was posted in Current Event and tagged , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s