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As Japan tries to recover from the devastating disaster of the earthquake it is quite apparent that the economy will be drastically effected in this country.
Discuss how you feel this world leader will be effected. Discuss how it my effect other areas of the world, and how long it may take to recover.
I agree that this is tragic but I question whether or not as many countries would be as sympathetic if it happened to us?
ReplyDeleteParis Texeira
After such a tragedy, a nation’s future is often hindered by the response within the country, internationally as well as the factor of its stature prior to devastation. Take for instance, Haiti the Western Hemisphere’s poorest country- with little to no economic income, the primary coming from tourism and manufacturing. This country, already poverty stricken has had a struggle to reconstruct itself, yet with outside sources overtime the country has slowly started to be rebuilt. Despite such efforts, it is hard to see Haiti being able to become a world power, or a prominent country, rather its focus merely is on survival. Japan, on the other hand has a history of overcoming hardship. After WWII, the Japanese economy had been damaged as well the land, but the fight for survival within the county was only strengthened. With the perseverance of the Japanese as well as William Deming’s idea of total quality management, the country was able to evolve into a mass producer with promised reliability after its efforts to produce quality product through training, education and quality control. Despite the devastation, only with time will Japan be able to rebuild itself. In the meantime, I believe other countries’ industries will assume the role of production and supplying; doing so, economies, including the United States’ profits will see an increase.
ReplyDeleteALEXANDRA SUNDAY
Japan is a very influential country in the global economy. They have the third largest GDP, are the fourth largest importer of U.S. goods, and the fourth largest exporter in the world (all as of 2010). Considering the recent disaster that they need to rebuild from, I think we will see them fall on all of the previously mentioned lists. This will cause a great change in many countries's economies. The extent of growth or damage will depend directly on each country's ability to adapt to the changed global marketplace.
ReplyDeleteThe United Sates imports and exports to Japan everyday. It would be insane to say that United States would be affected by this major disaster. In recent article I read stated that the sushi industry in the United states would be affect because the product will have no way of getting to the United States. This is not just for the United States many other countries will be affected as well. Japan is the 4th largest exporter in the world. With all the deaths and possible deaths due to radiation, only time will tell how long it will take for Japan to bounce back from this disaster.
ReplyDeleteJAMES ADRIANO
Us as a country lean on Japan for more than one reason, so I feel that the longer it takes them to get back on their feet the more we as a country and others countries will slowly start to suffer.
ReplyDeleteThere is no real way of knowing how long it is going to take for Japan to recover, natural disasters can take years to recover from and even then Japan won't be the same. So much happened in a short amount of time, that almost nothing will be the same, I think. And with Japan being a large importer/exported, almost everyone who imports or exports with Japan will be affected if not now but soon, because in no time in the near future will Japan be recovered.
ReplyDeleteI believe that this disaster could affect Japan's leader depending on how this issue continues on and how japan continues to react on solving the issue. As for their economy, it will probably be hurting for a while. Just by looking at the damage so far, they are already finding their food contaminated or tainted with radiation. This will make it harder for Japan to trade thier goods with other countries.
ReplyDeleteIt's a tragic and we don’t know how long it is going to take for Japan to recover. Japan is nation with the world's third-largest economy is typically a top buyer of U.S. It is very hard for other countries especially for U.S. to help Japan economically but they will help because they import to many things and they want to continue because the buy grains, meats, corn than any other country, livestock feed and is a top export market for soybeans, pork and California rice.
ReplyDeleteAndreas kotopoulis
Because of the severe earthquake and tsunami which struck Japan 10 days ago, tens of thousands of people died or are missing and many companies in Japan had to shut down their factories. Many parts of Japanese industry had to stop whatever was going on before the earthquake and postpone it until this tragedy goes away. However, there is a nuclear plant issue still ongoing. Japan struggles and puts every effort to minimize the nuclear damage. I really hope that effort to be succeeded. If not, this tragedy would extend over a long time which would make not only Japanese people but also its economy as well as economy around world suffer more loss.
ReplyDeleteJapan has been one of the many countries that have taken over part of America's debt. Now with Japan dealing with the horrible tragedy of the earthquake and tsunami, their main concern will be to restore their own country instead of helping others. America owes Japan for them covering parts of our debt that it should be America obligation to help in anyway possible. With thousands of people dead and most without homes the economy should all chip in to help pull Japan out of this struggle. Not only are Japanese people without homes but the nuclear plants are trying to tame the issue and making sure that the damages are repaired before it has a chance to harm even more people. Based of the America's own struggle to fix New Orleans from a few years ago, it's going to take Japan years to get out of this even with all of the help possible.
ReplyDeleteSamantha Butcher
What happened in Japan is tragic without question. So many aspects of the world will be impacted by the aftermath. One huge topic that will be impacted is alternative fuel sources with the nuclear reactor situation. Nuclear power is one promising alternative to fossil fuels and under normal circumstances is extremely safe. However, the negative press surrounding this disaster and its effect on the reactors will give nuclear power a bad reputation for years to come.
ReplyDeleteGarrett Peterson
Japan may possibly never quite recover. Natural disasters happen, how can you just get over it? people over in Japan may never forget and generations to come may always ask why did it happen. As of March 20, 2011 the article "Japan disaster relief now getting through to most survivors" said that over 8,000 people died and 12,000 more still missing. No matter how much time passes those lives are still gone. Those families still hurt, and it will never be the same for them. Contries could come together and help Japan but could the contry really ever get back to what was normal?
ReplyDeleteAnother issue is the nuclear power plants. March 18, "Should Japan earthquake stop future construction of nuclear power plants?" The article states a major question. Should Japan stop any future construction of nuclear power plants? Republican congressman Devin Nunes of California introduced a bill, by the end of 2040 there will be the constuction of at least 200 new nuclear power plants. Is that a safe idea? Some believe that it is not the best idea but not for the obvious reason. To some of those people its all about just buiding them safely and disposing of the chemicals properly not just out of sight out of mind.
Without a doubt, the tragedy that took place in Japan a little over a week ago has created a domino effect of drastic proportions. First of all, the sheer travesty of the over 7000 deaths and the over 11,000 missing people means generations of families will take centuries to recover. You cannot put a price or time on the loss of a loved one- and especially not in such a tragic way. As far as the economy being affected, it will certainly take a toll and there is no predicting just how long it will take to recover. Japan is the third largest economy in the world. China and the USA are up there as well, but what will more adversely effect the world is the extreme presence Japan has in the export/import trade business across the globe. Some major products made in the country are cars, oil, electronic devices, and computers and having any of these businesses impacted at all would certainly be noticeable. Especially in the "race" to go green, this could have have a negative impact on the country's production of cars and other appliances. This disaster will be felt worldwide even though it only physically hit a portion of one country. Emotionally, fiscally, industrially, environmentally speaking, this is by far one of the most devastating calamities this world has experienced in generations.
ReplyDeleteElisabeth Scherer
Honestly I believe that this tragedy will set back the technology and new products coming put of japan along with any other exported goods. I think that Japan will struggle for a little bit but wil eventually get back to normal. Hopefully the nuclear reactors do not receive any more damage and everyone is safe.
ReplyDeleteNatural disasters over the past decade alone have affected so many countries and the global economy. Tsunamis, Katrina, Haiti, BP oil, and the list goes on. I read an article earlier this week that said that the most damage that will occur to the global economic market is the irrational fear that comes along with major disasters like this. By the end of the year, economically speaking, Japan will be back on the road to economic strength. As with all things, it just takes time to heal, as it always does.
ReplyDeleteI have read that it may take five years for Japan to rebuild after this month’s earthquake and tsunami. The automotive and electronics industries are likely to be most affected.
ReplyDeleteIt's going to take a long time for Japan to completely recover and rebuild. Not only will it greatly effect Japan's economy, it will effect many others as well. Japan is responsible for so many products and goods, and such damage to the country is detrimental to quick regrowth.
ReplyDeleteJapan is also a country known for it's culture and tourist industry. With the devastating tsunami, and also the radiation leak going on after the major earthquake, the percentage of tourists coming into Japan will decline drastically. People will avoid making trips to Japan for the time being and it will hurt it's economy quite a bit. It takes time for buildings and towns to be reconstructed and restored to its original situation. A lot of work needs to be done, that means money needs to be pumped in to get things going. However, I am quite amazed hearing that a recent article said that there isn't any looting after the disaster. That means that the Japanese still have hope that things will someday turn for the better. :)
ReplyDeleteAs Japan struggles to recover from a detrimental state, it is quite evident that the world nations will suffer tremendously. Japan, like many of its allies, was a power force in world economy. Countries, including the U.S., depend on Japan for international trade and commerce. without this nation being able to trade and exchange currency, goods, and services, our economy will be negatively affected as well. we will all have to come together and put our financial needs aside to help japan in the greater good to restoring its resources.
ReplyDeleteI think they will get a economic damage to import or export because many countries is using their products. I think international trade with the Japan will be reduced. Also, compared companies can get better benefit for a while but They recover their economic quickly because they already have experience about tragic disaster.
ReplyDeleteThis disaster will affect the world greatly with now the nuclear reactors exploding spreading radiation all over Japan and the areas surrounding Japan. This will affect crops all over many regions including the Unitied States. That is only a small part of how that will affect the world. Also because of this disaster the entrie island has been moved about 13 feet from were it was originally ... To think that the force of this wave and earthquake was great enough to move and entire island is mind boggling and it's affects will be felt every were around the world.
ReplyDeletethis is all very bad for the world. it will take very long to recover
ReplyDeleteThe disaster really ends up affecting more fragile world markets than anyone else, as many countries surrounding Japan, depended on their major exports as a way to continue to rebuild their own economic infrastructure as a result of the worldwide depression that hit within the last 5-10 years. The entire world however, will take a huge hit in regards to oil supplies. Virtually all Japanese oil refineries have been forced to shut down as a result of the earthquake and tsunami, resulting in a smaller supply of oil. On the flip side, the demand for crude oil has actually dropped as a result of the event, drastically dropping the price for that crude oil in many countries across the globe. The event really could not have come at a worse time, as Japan and indeed all countries were finally beginning to see a rise in their economic status. This will indeed take a toll and be the source of a major setback as the global economic depression attempts to rebound. Now, the question becomes, how many other nations will be willing to put aside their own economic struggles in order to help rebuild one of the world's economic powers. Past experience would say that the US will be a big help for Japan, but you have to question our motives. Are we looking at this situation as a way to unselfishly provide aid to other nations, or are we simply looking out for our best interests by helping Japan in their time of need? Either way, one thing is for certain, and that the global economy will take at least a few years to recover.
ReplyDeleteIt will no doubt take many many years to recover if they recover at all. I believe that the US should help, but the responsibility should be shared with the world. We have many economical problems of our own, and we are still trying to recover from katrina and the oil spill. If all nations can come together and help japan then they may have a chance of bouncing back. As far as a potential nuclear spill, this will affect the entire world in a bad way.
ReplyDeleteNot only will it take months if not years to fix the nuclear radiation issues with the food and water but also getting the nuclear program back on track will definately take a while. Their economy affects ours because we borrow a ton of money from the Asian countries. It will also affect our gas prices as well as the food we normally import from japan. The u.S. is doing a great job helping and will continue to do so because they are not only our ally but also a big part of our economy as well.
ReplyDeleteA catastrophe with the magnitude of Japan's recent earthquake was so strong that it made its financial institutions collapse. For Japan, and the world, this is extremely significant as it is one of the premier financial centers in the planet, and thus affecting international markets in a globalized economy.
ReplyDeleteComing from a country nicknamed as the "hammock valley" because of all the earthquakes that hit us every ten to fifteen years; I know recovery may not be speedy, and rather lengthy as progress and international aid seek to improve this degenerative crisis. Physical damages incurred on the earthquake and the tsunami estimate in billions of dollars. The advantage they have of being a wealthy country will allow then to overcome all of this in a short period of time; unlike other countries like El Salvador, which is a third world country, who took around ten years to recuperate from an earthquake not as strong as the one in Japan. Japan will over come this crisis with great success.
Rosa M. Molina
The earthquake in Japan was followed by a tsunami, leaving approximately 20,000 people dead. Not only is this upsetting to any Humanitarian (Japenese, American, etc), but it is devasting to Japan as a country. To make conditions worse, the loss of power from these natural disasters led to the release of harmful radioactive chemicals into Japan's atmosphere. Brave natives of the country are risking their lives in a struggle to correct the problems within these power plants and salvage whatever is left of Japan as a healthy nation.
ReplyDeleteIn relation to the United States, the American people have grown afraid that we can suffer the same devastation as the Japanese people did. This fear brings about a big question: Can this happen to us?
President Barack Obama has already demanded that the American nuclear power plants undergo safety inspection. It appears that Obama is taking the right steps to easing the minds of the American people.
Regardless, this month in the news has shaken the world. Although people are moving towards progress to clean up these messes, it will take a while for Japan and the rest of the world to bounce back
- Jessica Catanzaro
Japan is one of the strongest nations in the world and leading most of semiconductor production technology in the world. If they can’t recover this disaster, it will affect the world economy market because their technology and products are everywhere such as Toyota and Sony. It will take time but I’m positive that they will figure out the best solutions to overcome this disaster and everything will gradually get back to normal...
ReplyDeleteJapan has been affected in monstrous ways. The damages are estimated at $309 billion...Japan is a very expensive place to live. In Japan, two nuclear power plants were seeing significant problems (a possible radiation leak in one reactor and a possible meltdown in another) calling for evacuations within a 6-7 mile radius. Inhabitants are at constant risk for radiation exposure until solutions can be found and the radiation can be contained (issue of contaminated water). This is being called the “worst economic crisis since WWII” and the” worst nuclear crisis since Chernobyl 25 years ago”. Japan is also a fashion mogul, the Japanese industry as well as the industry as a whole has been devastated by the loss with no clear sign as to when it will be up and running again. Japan's technology, automotive and food industries have come to an almost complete standstill. The earthquake moved Japan closer to the U.S. and also has increased the countries surface area.
ReplyDeleteOther parts of the world that have been affected are the west coast of the U.S., particularly Hawaii with 6 ft. waves from the tsunami causes $3 million in damages. Aftershocks were felt all the way in South America Chile but it’s nothing compared to Japan. Trading has been limited with some ports in Tokyo and further South . The Japan’s hospitality industry has taken a big hit especially with tourism coming to a standstill (Marlborough Express). According to astrologer Richard Noelle coined the term “supermoon” in an article he published in 1979, it is when the moon is pretty much as close to Earth as it can get in its orbit. He accredits it for seismic activity and freak storms that occur during the week of a supermoon and this one just happens every 18 years. The earth’s axis, according to NASA, has shifted, shortening an earth-day because of this magnitude 9 earthquake. So, in this case, the entire world has been affected.
The short term goal, even though may take years, is for Japan to become the bustling metropolis it was before. Also to provide food, shelter, electricity, and hope for the Japanese people. In the long-term, after Japan is back on its feet it has the potential to be better than ever before.
Brittany Eaden
ReplyDeleteThis event is a tragic in its on right just as all other natural disasters that have occurred during our time. Japan i known for being a powerhouse in exporting goods that so many other nations demand. Japan is a strong automobile, electronics and related technology producer. The disruption of manufacturing had ripple effects around the globe, including in the United States. Most of the economy is dependent on such trade. Shutting down of nuclear power plants and oil refineries and many other industries caused a huge loss in a single day. The yen fell by 0.3 percent against the US dollar at an instant.We still don't know the full scale of the damage, but considering what happened after this tragic event this will certainly lead the government to compile an emergency budget. This all occurred at the time when Japan's economy was doing good in recovery. The government's ability to borrow will be tested in the reconstruction effort in Japan. Japan is already one of the most indebted countries in the world. Japan's government is assessing the damage at around $309 Billion, which would make it the world's most expensive natural disaster. It i snow up to all the other nations that depend so heavily on Japan to help restore and rebuild the country! Without Global assistance Japan will not be successful in returning into the powerhouse it was!
Many economists believe that Japan, which had a deficit of 10%, is probably going to slip into a recession, as government spending will certainly be heightened as relief funds are being spent. Japanese economist before the quake believed the way out of the deficit was to increase its exports, as they are an export driven economy. A two-fold problem has occurred because of the natural disaster, the yen’s value presumably will rise, and major manufacturing corporations are shutting down either because of flooding or radiation. The Yen’s exchange rate will increase because of bank savings are being withdrawn and corporations are gathering assets to rebuild after the damages. This will push up the value of the yen, making those items being exported more expensive to buy. This is met with a lower export of goods, “Toyota and Nissan said they were halting production at all of their 20 factories; two of Honda's three plants remain closed; Sony, the electronics group, has suspended production at eight plants”. If the answer out of the defecit was to rely on incresae in exports, the disaster will definitely cause major set backs if not certainly a recession.
ReplyDeleteSerious impacts will be felt by two primary trading countries near Japan, New Zeland and Australia. Impacts even in the hospitality field we be felt as Hawaii which is predominately dependant upon Japanese tourist, which will certainly decline. Most of the reports beign circulated in the US are concerned with Japanese automakers making Japanese exported behicles available in the US market. The US will feel a cost impact through an increase cost in Japanase only build car models, such as the hybid Prius.
Recovery in regards to clean up after the flood, maybe a year or longer. Japan has been aquanted with damages inflicted by earthquakes, and althought he tsunami was really bad, much of Japan is still in tact. The economy will certainly continue to suffer for a while, in an effort to rebuild, cleanup, and provide relief for all of those displaced from the earthquake and nuclear disaster.
I feel as though it will take the country a while to get back on its feet. Take Haiti for example,they are still finding bodies and still are without homes and food. Yes, it's a third world country but it is one of the stronger ones when it comes to unifying. With the time that it will take Japan to rise again the economy is going to go in the hole. We get about roughly 30% of our entertainment product from Japan as well as many other products. The inflation price is going to sky rocket through the roof. I feel bad for them and us.
ReplyDeleteI do feel very bad for the tragedy that occured in Japan but I will have to agree with the first post. If we the United States decide to help out would other countries do the same for us. But then I think that if you decide to do a good deed you shouldnt complete the deed in hopes that the favor will be returned one day you should just complete it out of the kindness of your heart. The leader will have to do something great because at this time in history is when his people need him the most and how he reacts to the bad things that go on will show what he is made of forever
ReplyDeleteKeira Jarrett
I think that the economy in Japan is obviously going to be impacted by the earthquake. Japan is considered by many to be a travel destination, pulling a large amount of income from tourism alone. When the tourists come and spend money there, the money gets reinvested in Japans economy, further improving it. Without tourism, Japan is going to lose out on agood deal of the money that definitely helps keep their economy going.
ReplyDelete-Lorna Rosenblum