Tohoku earthquake is vastly different from the Great Hanshin-Awaji Earthquake Disaster in 1995 in aspects of magnitudes, quake-stricken area, probable number of casualties, and above all, impact on Japanese economy. It seems that Japan’s financial sector has reached a consensus that Tohoku quake will add more complexity to Japan’s sluggish economy by further dragging down its GDP by 1%. However, post-earthquake rehabilitation will scale up this time and is going to significantly ease domestic unemployment. Japan could capitalize on the opportunity of post-earthquake reconstruction to achieve economy recovery.
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