Japan Tsunami “Splashes” Down on the Economy


On May 11, 2011, tragedy struck Japan as an 8.9 earthquake destroyed nearly everything in its path. The earthquake caused tsunamis that generated many waves as high as thirteen feet and one wave towered twenty-three feet high. The catastrophe was one of the worst natural disasters in history and will not be cheap to clean up. Myself, being a business major, was intrigued to look up how the earthquake will affect the economy. As of March 23, it was estimated that the losses could reach up to $309 billion. The disaster could also have an affect on the stock market and the economy. The cost of repairing the damage may force Japan to borrow money, while their economy is already suffering. In addition, a fiscal crisis will be harder to get away from the greater the social and economic damages are.

Robert L

http://www.time.com/time/world/article/0,8599,2058391,00.html
http://www.worldnewsco.com/4862/losses-of-earthquake-and-tsunami-in-japan-reach-u-s-309-billion
http://money.cnn.com/2011/03/11/markets/world_markets/index.htm

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One Response to Japan Tsunami “Splashes” Down on the Economy

  1. Pingback: Japan Tsunami “Splashes” Down on the Economy | ISP203B Natural … | Recent Disasters

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