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Thread: Can Japan’s economy ever recover after the devastating earthquake?
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[quote=KEVIN0518,422836]The Japanese National Police Agency has officially confirmed 5321 deaths, 2383 injured, and 9329 people missing across seventeen prefectures due to the 9.0 magnitude earthquake. The earthquake has not only caused mass casualties but also affected Japan’s economy. "Goldman Sachs has produced an estimate of the total cost of damage to buildings, production facilities and so forth of some Y16,000bn ($198bn). That would be 1.6 times the destruction from the 1995 Hanshin earthquake, which devastated Kobe. Yet the Japanese stock market has lost $610bn since Friday, 12 per cent of GDP. The Organisation for Economic Co-operation and Development forecasts Japan’s gross government liabilities at 204 per cent of GDP at the end of 2011 and net liabilities at 120 per cent.” (The above quated from FT Chinese.com) I really doubt if Japan’s economy can survive the earthquake? What do you think? [/quote]
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