Monday, March 14, 2011

Japan's Economy and the Quake


"While the nation’s industrial clusters in the south and west seemed to be spared the worst, the crisis at damaged nuclear plants north of Tokyo was threatening to cause an energy squeeze that could set back all sectors of Japan’s economy." Read about how this disaster will affect the economy of the country.

http://www.nytimes.com/2011/03/14/business/global/14yen.html?scp=1&sq=economics%20of%20the%20earthqualke&st=cse


What might happen here is the Hayward fault is activated? Are you ready?

12 comments:

  1. As Japan continues to struggle to get back from the devastation of the earthquake and tsunami, we are posed with many questions about their economy and how these natural disasters will affect them. We see that their nuclear power plants were destroyed in the earthquake/tsunami, and radiation is going rampant. Although this is not the only thing, we find that without this power, they have no electricity. In fact, most of the electricity is being rationed throughout the country, affecting homes, apartments, and ultimately businesses. These businesses, without light, will not be able to run as efficient. This will make production of goods slow down, leading to a decline in the economy.
    "Rebuilding costs that could run in the tens of billions of dollars may require Japan to make tough decisions about government spending, economists say. Its ratio of government debt to the economy’s annual output is already at 200 percent, the highest among industrialized nations and far higher than in the United States, for example." Japan will eventually have to rebuild its country, and if they are already in debt to the economy's annual output, then their economy will eventually fail over a shorter period time due to this natural disaster.
    If the Hayward fault is activated, San Francisco and as well as the bay area will be affected by this quake. I believe that California has been well prepared for an earthquake since the most recent earthquake that has happened. This includes earthquake safe food, buildings, and more. But who knows, it all depends on when it happens.

    (http://www.nytimes.com/2011/03/14/business/global/14yen.html?_r=1&scp=1&sq=economics%20of%20the%20earthqualke&st=cse)

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  2. If the hayward fault is activated the state of California will be decimated. More then 80% of the state will end up under water, before that earthquakes will hit at 8.2 and higher, leveling practically every building near the epicenter. Are we ready? Of course we aren't ready, try your best to prepare for the second coming of Jesus, because thats what this quake will be for California, judgement day for all those who weren't quick enough to leave the state and get to higher ground.

    (*insert rhetoric statements and witty dialog)

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  3. Japans economy will and already is being affected by this massive tsunami and earthquake that hit them last week. They are big producers of cars that most families in the United States own, Toyota, Honda and Nissan. These factories remain closed which means they lose money. Japan is suffering a shortage of electricity and they have to share it so they have enough until the problems are solved. "the crisis at damaged nuclear plants north of Tokyo was threatening to cause an energy squeeze that could set back all sectors of Japan’s economy." The damage is massive and the amount of money needed to rebuild cities is a lot, so much that Japan will have to make tough decisions about government spending and will have to make cuts where ever they are needed.
    If they Hayward fault is activated then everyone will not have any idea on what to do. We have been told for many years that a big earthquake is coming and some people have gotten over it thinking there is nothing to worry about. The only time we do worry is when another country suffers a massive earthquake. I personally think I am not ready if a big earthquake occurs here in California.
    "If we get a similar sized earthquake in the Pacific Northwest, it will have a major impact on the whole region"

    (http://www.nytimes.com/2011/03/14/business/global/14yen.html?_r=1&scp=1&sq=economics%20of%20the%20earthqualke&st=cse)

    (http://www.atvn.org/index.php/news/story/caltech_california_not_ready_for_its_own_quake_yet1/)

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  4. Because of this disaster, utilities all over Japan have to cut back and share power which will lead to blackouts affecting factories, stores, and homes all throughout Japan. This could greatly affect Japan's ability to make goods which therefore will affect their economy. According to this article, the "bleak outlook prompted a 6.2 percent plunge in the Nikkei 225 stock index in Tokyo on Monday, as companies from Sony to Fujitsu to Toyota scaled back operations." The central bank said, "‘‘The damage of the earthquake has been geographically widespread, and thus, for the time being, production is likely to decline and there is also concern that the sentiment of firms and households might deteriorate.’’ The central bank put tons of money into the financial system to stabilize markets and boost up the economy. Because all of the factories and companies must close, the transport system has been affected which therefore affects their ability to "make and move their products." It is possible that Japan could suffer through a recession after this disaster and government spending may have to be highly supervised and regulated/limited. The value of the yen will also increase and because of the "reduction in demand for United States Treasury bonds" this could add pressure to American interest rates. If Japanese companies are affected due to damage, consumers all around the world could be affected. For example, fuel efficient cars are produced in Japan such as Honda Fit. Japan is a huge supplier of electronics and because of this disaster, prices will rise on these products. Mr. Handy states, "any cut in water supplies or an increase in contaminated water would hurt production." This is because water is an important part in making a chip. Sony has six factories that were all affected and had to stop all operations. Overall, layers of problems will stack up on top of each other because of the the power outages. Many factories will have to shut down which affects not only the companies profits, but consumers everywhere who purchase electronic chips or goods from Japan because the prices will increase.
    http://www.nytimes.com/2011/03/14/business/global/14yen.html?pagewanted=2&_r=1&sq=economics%20of%20the%20earthqualke&st=cse&scp=1

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  5. Due to the recent disasters in Japan including the earthquake, tsunami, and now the nuclear plant meltdowns, the country has been forced into a stand-still. This series of events has sparked the the downturn of not only Japan's economy but America's as well. Since a lot of Japan is without power, it makes it nearly impossible for businesses to operate. This has put a halt to all Japanese automobile production, which directly affects the U.S. since people can't buy the car they want. It will take years for Japan to be fully restored, but in the mean time, the U.S. and other countries are doing their part to send relief to the one's whose lives have been effected the most.

    In regard to the potential threats of the Hayward fault here in California, the state is not at all prepared for the possible devastation an earthquake here would bring. The only thing I personally can do to prepare myself and family for a quake similar to the one in Japan is stock up on food and water and money. It's frightening to think how close we are to the ocean and how an earthquake triggered tsunami here in California could do a lot of damage.

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  6. In the country of Japan with a "JST a massive 9.0-magnitude earthquake On March 11 at 2:46pm occurred near the northeastern coast of Japan, creating extremely destructive tsunami waves which hit Japan."
    (http://www.google.com/crisisresponse/japanquake2011.html)
    If the Hayward fault was to be activated then more than half of state will be below sea level. If we think California is prepared for we have another thing coming to believe that California has a plan to be prepared for this fault to be activated is a big no the best possibility is to leave the state and head for grounds that are a lot higher than sea level.

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  7. Japan's most recent natural disaster has been one that affects many. Not only was there an earthquake, but also a tsunami. Basically what wasn't ruined by the earthquake was destroyed by the tsunami. Right now, the current crisis is the situation with the nuclear plants. IF the nuclear products are spread, then the habitation of living will not be possible. THe chemicals in the nuclear plant are not stable and our bodies cannot handle such radiation and such. Questions such as how will Japan's economy survive is in current discussion. Efforts to help Japan's system includes, "The Bank of Japan, in an effort to preempt a further deterioration in the economy, eased monetary policy on Monday by expanding an asset buying program." http://www.nytimes.com/2011/03/14/business/global/14yen.html?_r=1&scp=1&sq=economics%20of%20the%20earthqualke&st=cse
    The struggle to get Japan running smoothly is among us because of their imports an exports to the United States. Rebuilding damages is estimated to cost around tens of billions of dollars. Debts percentages have risen to about 200%.
    The Hayward fault runs along 37 miles of California. If activated, I don't think anyone would be ready because of the extensive damage that would occur. Because the fault is 37 miles long, one area could affect another thus creating a chain affect of destruction. The time to recovery form such a tragedy would be long and supplies might not be able to be distributed. No matter what kind of disaster, I don't think anyone will be prepared.

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  8. The disaster in Japan is affecting their economy right now because their nuclear plants are damaged. There is no electricity in the devastated areas, Japan is trying their best to fix this problem. "To help bring electricity back to devastated areas, utilities across Japan are cutting back and sharing power, imposing rolling blackouts that will affect factories, store and homes throughout the nation." No electricity, means no running businesses such as some of their major car companies. Their economy is also suffering because the cost of repairs on cities where the tsunami and earthquake struck will be very expensive. If the Hayward Fault is activated I don't believe California will be prepared. There is really no way anyone can be prepared for something when the severity of the situation might be much greater than expected. I suppose if one believes there may be a disaster, expect the worst.

    (http://www.nytimes.com/2011/03/14/business/global/14yen.html?_r=1&scp=1&sq=economics%20of%20the%20earthqualke&st=cse)

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  9. Now the economy of Japan is so depressive and bad because the earthquake and the tsunami. Also the nuclear plants affected and still affect the economy of Japan. It was a really bad disaster that attacked that country, even though Japan was prepared for this kind of catastrophes, but now there were three in just one day it was devastating. Now a week after the catastrophe they are suffering the bad economy because some of them do not have house, in some parts of Japan there's no electricity and food.

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  10. If the Hayward fault became active then there would be a major disaster. Yes, California has been doing more to prepare for a major earthquake. We have been retrofitting building so that they will still stand even in the event of an earthquake. Even if we know in advance we still wont be able to prepare for it. We cannot truly know what the effects of the earthquake is until we have it. Many building would collapse and there would be many people missing or killed by it.

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  11. I agree with Jessie that if an earthquake were to hit the Hayward faults, it would be a disaster. The faults are spread out throughout California's coast and if a major earthquake were to hit, it would cause a chain reaction causing massive amounts of destruction. Our land mass would be disfigured and the ocean will have risen through the cracks in the land that the earthquake carved, causing new underwater areas. The geography of the world would have also shifted. As Jessie said above, I also believe that it's hard for anyone to really be ready for such a massive natural disaster. Even with technology that can hopefully predict natural disasters, it's not enough to prevent them from happening. The time allotted for warnings may save lives, but the destruction is inevitable.

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  12. Even though the Earthquake affected Japan really bad, there was also the Tsunami that caused damage and so did the meltdown of the nuclear reactor that was old and meant to be replaced. All of these disasters could not possible have been fully predicted to be as bad as they were. If there is a huge Earthquake across San Andrea's Fault or Hayward Fault than we will be in such an unimaginable disaster that we can't even try to prevent it, we can only run. It is quite a shame, because we can't exactly run every time we have an earthquake warning. We would look really dumb every once in a while that we run out of California to find out that it didn't actually occur and it passed. We can only make our buildings and structures as prepared as possible to take as much stress as possible that can be given by an earthquake

    (http://www.nytimes.com/2011/03/14/business/global/14yen.html?_r=1&scp=1&sq=economics%20of%20the%20earthqualke&st=cse)

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