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Posts tagged:

natural disaster

29Dec

2011 Express: Society

As Time magazine declared it, 2011 was the year of the protester. Europeans took to the streets over austerity measures, while a group of Americans ‘occupied’ a park near Wall Street.


14Apr

By the IMF’s math, a magnitude 9.0 earthquake, a [23-metre] tsunami and nuclear reactors leaking radiation will barely nick growth. It now sees Japan advancing 1.4 percent this year, down from its earlier 1.6 percent prediction. That raises a very technical econometric question: Huh?

William Pesek, Bloomberg

‘Huh?’, indeed. The IMF’s analysis does not seem to gel with what many commentators have observed in Japan. The combined effects of the devastating earthquake, tsunami and on-going nuclear emergency have crippled business investment. While there will doubtless be something of a reconstruction boom, it will take time before Japan reaches that point — particularly as aftershocks continue to unnerve locals and disrupt production, and there remain serious question marks about Japan’s ability to meet its energy needs in the short to medium term with the Fukushima Dai-ichi plant permanently out of action. William Pesek also observes two other critical factors that will ensure any recovery is slow in materialising: a weak global economy that will make export conditions (crucial to an economy where domestic demand has been perennially weak) challenging, and poor political leadership. While I don’t profess to be a macroeconomist, my own impressions are that expectations of 1.4 per cent GDP growth this year seem absurdly optimistic.


07Apr

I don’t normally post skateboarding-related stuff on my blog. However, I stumbled across a video today that shows skateboarders making the most of the new landscape that this year’s earthquake brought to the New Zealand city of Christchurch. It is but one encouraging sign of a community trying to return to normal despite the devastation that has befallen it.