Monday, April 11, 2011

Can Japan recover from the earthquake/tsunami?


I don't think the Japanese people can get a break. With 2 M7+ aftershocks making the already bad nuclear problem even worse, things aren't looking good.

 The Japanese government has said the damages caused by the disaster so far is over $300 billion, which doesn't even take into account what the radiation being dumped into the ocean is doing to their fishing industry(what didn't get wiped out by the tsunami).

How much is Japan going to rely on foreign aid for help? The U.S prides itself on being one of the most giving nations when a country needs help in times of need, but will we be able to help them rebuild? With growing concern over debt, will tax payers want us to spend even more money in another country?

I think we haven't even started seeing the long term effects this will have on the Japanese economy(and the world economy). Sure, the Japanese people are probably the most resilient and disciplined people in the world, but how long can they live in overcrowded shelters with dwindling food supplies?

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