The 9.0 magnitude earthquake, tsunami, and nuclear reactor issues that occurred in Japan last month were unprecedented and tragic. The loss of life has been overwhelming to comprehend. I hope that the people can rebuild their homes and businesses soon.
In addition to the personal loss, there is uncertainty about the short and mid term futures of some industries. For example, some Japanese warehouses for the seafood industry are full because it is difficult to move the inventory to the customers, so demand for some fish, like Alaskan salmon and crab from Newfoundland, has dropped. The demand for Japanese fish has also declined because consumers want to be certain that the seafood has not been exposed to radiation.
Please keep the Japanese people in your prayers as they recover over the coming months and years.
Sources: NPR, Liam Moriarty, U.S. Seafood Industry Braces For Japan Crisis Impact, March 18, 2011, http://www.npr.org/2011/03/18/134653667/u-s-seafood-industry-braces-for-japan-crisis-impact; CBC News, Japan Disaster Could Hurt Seafood Industry, March 15, 2011, http://www.cbc.ca/news/canada/newfoundland-labrador/story/2011/03/15/japan-disaster-crab-sackton-315.html; KTUU, Rhonda McBride, March 14, 2011, Economic Fallout from Japanese Quake Touches Alaska, http://articles.ktuu.com/2011-03-14/seafood-industry_28689991
SensitiveEconomist 