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. In General, the earthquake in Japan will affect the automotive industry around the world, because Japanese companies provided spare parts, electronics, and chemicals not only to their native car manufacturers.
Insurers, calculating losses from the earthquake in Japan, determine the preliminary amount of 35 billion dollars (air Worldwide calculation). Later, the figure was 47 billion dollars, while Moody’s Agency says that the investment attractiveness of Japanese companies may decrease. The Bank of Japan allocates $ 122 billion to minimize earthquake risks. At the same time, European and American companies (AIG, Munich Re, etc.) will suffer the main losses from insurers.