Implications for the global economy

earthquake in Japan. The series of earthquakes that began on March 11, 2011 in Japan, in addition to the loss of life and displacement of the earth’s axis, has already had, and will continue to have, an impact on the situation in the world economy.

In 2010, Japanese GDP ranked third in the world, accounting for 8.7 % of global GDP. At the same time, the region most severely affected by the earthquake provided 8% of Japan’s industrial production.

Toyota, Nissan, Honda, and Isuzu have already announced production stops. Only Toyota will not release about 40 thousand cars during the forced stop. Continue reading →