Japan and the American Economy

The devastating earthquake and tsunami that struck Japan recently has left the island nation in shambles, destroying homes and businesses alike. Japan’s economy is obviously reeling, but how does that affect the American economy? The jury is still out on this question. Some experts say that America could see an influx in jobs as companies try to pick up the business slack and help to rebuild Japan. With Japan being an export laden economy this could give United States companies more opportunities to sell their products overseas in its place. However, some experts believe that the extra need of raw materials by Japan will drive up prices on things such as plastics and steel. Fortunately though, America is an exporter of these goods and could possibly even receive an economic boost from all the construction activity as Japan tries to rebuild.

Nick G.

Sources: Chicago Tribune | Fox News

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