[net-gold] DISASTERS: EARTHQUAKES : COUNTRIES: JAPAN: Japan Quake's Economic Impact Worse Than First Feared
- From: "David P. Dillard" <jwne@xxxxxxxxxx>
- To: Net-Gold -- Educator Gold <Educator-Gold@xxxxxxxxxxxxxxx>, Educator Gold <Educator-Gold@xxxxxxxxxxxxxxxx>, net-gold@xxxxxxxxxxxxx, Net-Gold <Net-Gold@xxxxxxxxxxxxxxx>, NetGold <netgold@xxxxxxxxxxxxxxx>, Net-Gold <net-gold@xxxxxxxxxxxxxxxx>, K-12ADMINLIFE <K12ADMIN@xxxxxxxxxxxxxxxxxxx>, K12AdminLIFE <K12AdminLIFE@xxxxxxxxxxxxxxx>, MediaMentor <mediamentor@xxxxxxxxxxxxxxx>, Digital Divide Diversity MLS <mls-digitaldivide@xxxxxxxxxxxxxxx>, NetGold <netgold@xxxxxxxxxxxxxxxx>, Net-Platinum <net-platinum@xxxxxxxxxxxxxxx>, Sean Grigsby <myarchives1@xxxxxxxxxxxxxxx>, Net-Gold <NetGold_general@xxxxxxxxxxxxxxxxx>, Temple Gold Discussion Group <TEMPLE-GOLD@xxxxxxxxxxxxxxxxxxx>, Temple University Net-Gold Archive <net-gold@xxxxxxxxxxxxxxxxxxx>, Health Lists -- Health Diet Fitness Recreation Sports Tourism <healthrecsport@xxxxxxxxxxxxxxxx>, Health Diet Fitness Recreation Sports <healthrecsport@xxxxxxxxxxxxxxx>, HEALTH-RECREATION-SPORTS-TOURISM@xxxxxxxxxxxxxxxxxxx
- Date: Tue, 12 Apr 2011 06:58:12 -0400 (EDT)
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DISASTERS: EARTHQUAKES :
COUNTRIES: JAPAN:
Japan Quake's Economic Impact Worse Than First Feared
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Japan Quake's Economic Impact Worse Than First Feared
By Rie Ishiguro and Shinji Kitamura
TOKYO
Mon Apr 11, 2011 11:28pm EDT
Reuters
http://www.reuters.com/article/2011/04/12/
us-japan-economy-idUSTRE73B0O320110412
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A shorter URL for the above link:
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http://tinyurl.com/63kf3w3
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(Reuters) - Japan's economics minister warned on Tuesday that the economic
damage from last month's earthquake and tsunami is likely to be worse than
initially thought as power shortages will crimp factory output and
restrict supply chains.
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The more sober assessment came as Japan raised the severity of its nuclear
crisis at the Fukushima Daiichi nuclear plant to a level 7 from 5, putting
it on par with the Chernobyl nuclear disaster in 1986.
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The Bank of Japan governor said the economy was in a "severe state," while
central bankers were uncertain when efforts to rebuild the tsunami-ravaged
northeast would boost growth, according to minutes from a meeting held
three days after a record earthquake struck Japan on March 11.
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The government and main opposition party have agreed to a spending package
to get some reconstruction work started, but setting a large additional
budget will be difficult due to Japan's large debt burden.
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"After a natural disaster, people tend to refrain from spending and you
get a sense that factory output will shrink," Economics Minister Kaoru
Yosano told reporters after a cabinet meeting.
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"In some areas, the impact could be very big."
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Japan is facing its worst crisis since World War Two after a 9.0 magnitude
earthquake and a tsunami towering more than 10 meters battered its
northeast coast, leaving nearly 28,000 dead or missing and rocking the
world's third-largest economy.
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The government estimates the material damage alone could top $300 billion,
making it by far the world's costliest natural disaster.
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The complete article may be read at the URL above.
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Sincerely,
David Dillard
Temple University
(215) 204 - 4584
jwne@xxxxxxxxxx
http://daviddillard.businesscard2.com
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