World Bank says it will cost £235bn to recover from Japan earthquake
The earthquake that struck Japan on 11 March has grabbed headlines around the world and devastated an entire country. Experts are now saying that Japan could take up to five years to rebuild, as it deals with the aftermath of the earthquake.
According to Building News, the World Bank are predicted that the amount of damage in Japan could amount to a staggering $235 BILLION.
After such a big disaster, the Japanese economy is expected to suffer, and GDP will slow down, but reconstruction will grow the economy later this year. The World Bank also reports that the disruption from the earthquake will lead to challenging times for the manufacturing, transport and communications industries.
Thousands of people died and half a million people lost their homes as a result of the earthquake and tsunami that struck Japan, and the quake caused significant damage to the Fukushima nuclear reactor, which sent alarm bells ringing as radiation poured out of the plant.
The Japanese are reporting that the radiation is now under control, but Brits were advised to get out of Tokyo last week because of the looming threat of radiation.
Japan has suffered from earthquakes before, notably the Kobe earthquake in 1995 that killed over 6,000 people. The Kobe disaster may not have been as powerful as the 2011 earthquake, but Japan has been rebuilt before and growth in trade only slowed for a few quarters of the year.
Last week also saw the news that UK construction firms could be set to help out and offer advice to the Japanese and help rebuild the country, which has been torn apart by the earthquake.
The UK construction industry can play a vital part in helping rebuild Japan and our country can benefit by improving our safety when it comes to building nuclear reactors to ensure the UK does not suffer the same fate as Japan if we ever experience an earthquake.
UK Construction Firms could help Japan deal with earthquake aftermath (www.train4tradeskills.wordpress.com )
Help support the Relief Efforts in Japan
Posted on March 22, 2011, in construction jobs, construction news, Electrical News, plumbing jobs, Plumbing News, train4tradeskills and tagged construction, construction jobs japan, Earthquake, Economy of Japan, Great Hanshin earthquake, Japan, Japan earthquake 2011, Kobe, t4ts, train4tradeskills, World Bank. Bookmark the permalink. Leave a comment.