Impact of Japan’s Earthquake on the Asian Economy and its Supply Chain
Taking the Economic Pulse Series
According to the Japanese Cabinet Office the damage in northeast Japan from the 9.0 magnitude earthquake and tsunami on March 11, which also triggered a crisis at the nuclear power plant, could cost up to US$309 billion. The damage to the infrastructure and housing is unprecedented and according to World Bank, could take up to 5 years to rebuild. It has also been predicted that East Asia would be affected with the biggest impact on trade and finance. Tomo Kinoshita, Deputy Head of Economics, Asia ex-Japan, of Nomura, based in Hong Kong, shared with members the impact which the devastating earthquake might have on the Asian economy and its supply chain.
2011/04/21