Aftershocks
| C.R.O.S.S.R.O.A.D.S |
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| Jonathan De la Cruz |
Quite apart from the losses in lives and properties which accompanied the twin disasters that struck Japan last Friday, we are now being told to brace for the impact of this tragedy on the world economy. Leading risk analysis firm AIR Worldwide has advised that insured losses from the earthquake alone could reach nearly $35 billion. That will surely bestir the insurance industry which has yet to recover from losses incurred in other disasters worldwide, the latest being the one which visited Christchruch some weeks back. On the other hand, Japan’s Chief Cabinet Secretary Yukio Edano taking off from Prime Minister Naoto Kan’s grim assessment that which happened was surely the “worst disaster experienced by Japan after WW ll” noted that the quake is “expected to have considerable impact on a wide range of our country’s economic activities.” Banks have estimated the economic loss in Japan’s northeastern region alone at $183 billion which is huge by any standard. With the expected meltdown in two of the three endangered nuclear plants anytime soon that estimate will soar even higher in the days to come..... MORE
Source: The Daily Tribune
URL: http://www.tribuneonline.org/commentary/20110316com4.html
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