The economic fallout on Japan and the rest of the world in the wake of last week’s devastating earthquake and tsunami is only beginning to emerge.
DBS Bank of Singapore has estimated that the disaster will cost the Japanese economy at least $100 billion — about 2 percent of the nation’s annual gross domestic product — because of shuttered automobile and electronics plants and other disruptions. Any significant worsening of radiation releases from the damaged Fukushima Daiichi nuclear plant could send that estimate skyrocketing.
via politico.com
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