How much money does it cost Japan to repair damages from the 2011 tsunami?
I wanna know how much cost to repair the damages by the 2011 tsunami in Japan
Tokyo shares closed up 5.68 per cent today on bargain-hunting following a huge two-day selloff.
– Japanese shares had plunged 10.55 per cent yesterday on a wave of panic-selling after Prime Minister Naoto Kan warned that radiation leaked from the quake-hit plant had reached levels that posed a threat to health.
– it was the biggest one-day fall since the Lehman crisis in 2008 at the beginning of the global financial downturn, compounding Monday's 6.18 percent tumble.
– the Bank of Japan has so far pumped 28 trillion yen ($346 billion) into money markets.
– With rolling power cuts planned, many major companies from carmakers to tech firms have suspended production.
– Singapore bank DBS estimated the quake and tsunami would cost Japan's economy $100 billion, equivalent to about two percent of its gross domestic product.
The exact amount will not be known for some time; and even then it depends in part on how you define 'damages.'
Last I heard, estimates of property and business losses attributed *directly* to the earthquake and tsunami (as in, stuff actually wrecked or missing) is about $200 billion.
Current estimates are at $250 billion in US dollars. As to how much it will cost no one knows yet.
We won't know the total cost for months if not years.
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