A 7.3 magnitude earthquake hit Japan’s eastern coast early today, triggering a small tsunami and causing many to evacuate.
According to US Geological Survey (USGS), the epicenter was about 245km (150 miles) south-east of Kamiashi, at the depth of about 36km. NHK TV broke off its regular programming and issued the earthquake alert shortly before it struck. Commenting on the potential repercussions of the earthquake, the BBC’s Rupert Wingfield Hayes in Tokyo said that the predicted height of the wave would represent a far lower risk of devastation than the 11 meters high tsunami of 2011.
Please note that gratuitous links to your site are viewed as spam and may result in removed comments. We have all seen the harrowing images on TV that looked like something out of a Hollywood disaster movie so we know the incalculable and incredibly tragic human loss and suffering that has been caused by the 11 March 2011, Tohoku earthquake and tsunami in Japan. Japan is the world’s third largest economy and among the main worries is the ripple effect that will be felt the world over as a result of the devastation in Japan – not just to the financial world, businesses and industry but also the damage resulting from the destruction of the nuclear power plant.
While some experts express the apprehension that this will trigger a global recession much like the one three years ago, triggered by the collapse of the US investment bank Lehman Brothers, leading economist have said that there is no real danger of this happening. Though the estimated loss to Japan is estimated to be in the region of tens of billions of dollars, reports say that it could have been worse than is – the fact that the worst of the damage has been in the areas that are less industrialized than other areas of Japan, has had limited economic impact. In countries such as South Korea and Taiwan and China, there has been a short term benefit – as the product output of Japanese companies falls, the demand for products from these other countries has soared.
The whole impact of the earthquake and resultant tsunami will only be fully understood in times to come, and the healing and the recovery process will doubtless be difficult and protracted.

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The earthquake occurred 140km off the coast of Honshu (the largest of the Japanese islands) in Japan. Click here to see an excellent timed interval of the earthquake and the many aftershocks that occurred following the earthquake.
The earthquake occurred at 2.46pm which resulted in many lives being lost in the initial earthquake due to many office buildings being full as well as busy roads however a large number of lives were saved as it meant that many people were ready to act when the tsunami warning was heard.
Along the Pacific Coast of Mexico and South America, tsunami surges were reported, but in most places caused little or no damage. 3 months later these pictures from the Boston Globe showed the progress that was being made in the slow clean up. This entry was posted by Chris Prettejohn on January 23, 2012 at 9:37 am, and is filed under Case Study, Natural Hazards, Physical Geography.
The world's second-largest economy grew at the slowest pace in seven years during the first quarter, according to a CNNMoney survey of economists.
Comedian John Oliver took on the credit reporting industry in the latest episode of LastWeekTonight on Sunday.
A three-foot tidal wave hit Ishinomaki in Miyagi Prefecture, forcing many people to move to higher ground before alerts ended.
The US Pacific Tsunami Warning Center claims there is no threat to the wider Pacific Ocean, but warned that a local tsunami might be destructive for local coastlines, with possibility of tsunami height varying between 50cm and 2m.

Stock markets and financial circles the world over were negatively impacted by the earthquake and resultant tsunami. When the Kobe earthquake occurred in 1995, this had a far worse impact in terms of economic cost. So right now, these countries could experience a small economic boom as a result of the increased demand of products. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. There has been no immediate reports of deaths, physical injuries or significant damage to the area, which was devastated by an earthquake and tsunami last year.
However very soon the scenario could change; when these businesses are negatively impacted by Japanese raw materials not reaching them.
Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc.

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