The unprecedented triple disaster that Japan experienced in March represented a major impact on the world's third-largest economy. With thousands of people dead or missing, and material damage
estimated to be as high as 25 trillion yen (more than $320 billion), it is by far the world's costliest natural disaster.
In the immediate aftermath of the 9.0 magnitude earthquake and subsequent massive tsunami, the crisis at the Fukushima Daiichi nuclear plant created nationwide power shortages, further disrupting the overall supply chain and forcing industries such as auto manufacturing to curtail production.
Though the full global economic impact of the disaster has yet to be completely assessed, tremendous challenges still remain for Japan to overcome as the long-term recovery process continues. How do experts assess the "ripple effect"
of such a significant series of events? And what repercussions can be felt in Tennessee, with our state's close economic ties to Japan?
Next month, the Chamber's International Business Council will host a panel discussion with Japanese government officials and business leaders discussing the current state of the Japanese economy in the wake of the disaster, and the estimated impact on the global economy. Panelists include Kiichiro Sato, president of the Japan External Trade Organization in New York; Hiroshi Sato, consul-general of Japan in Nashville; and Keisuke Honda, general manager, Mitsui Corporate Planning, New York. Click here
The outpouring of worldwide aid and support to Japan included the Tennessee Tomodachi Fund, which was founded by the Japan-America Society of Tennessee (JAST). JAST recently announced a total collection of nearly $200,000 to date. These funds have been distributed to the Japan Center for International Exchange for use by six targeted relief agencies working in the hardest-hit areas of Japan. For information on their progress, visit www.jcie.org/earthquakeupdate.html.
Donations will continue to be accepted through www.jastn.org
or by mail at P.O. Box 190476, Nashville, TN 37219.