Tsunami comes from the Japanese word "tsu" and "nami" meaning harbor waves. Tsunami are humongous waves and a powerful force of nature. It was march of 2011 that a huge tsunami hit Japan that caused Nuclear Reaction which cause an alarmful damage in their country.
How did the Tsunami in Japan affect the economy? Not only Japan's economy was affected by the tsunami and Nuclear reaction but also many countries even the Philippines was affected.
The effect of the Tsunami in Japan's economy was they lost thousands of people and many of their infrastructures were damage so they have to rebuild and relocate their people for clean up. The quake and tsunami had also cost damage to their ports which pushed them to close down their key ports and some of their airports. Not only that since Japan is well known as a good source of semi conductor products and other gadgets, they are also the supplier of the wings, landing gears and other major parts of Boeng's 787 Dreamliner, They have stop their production for awhile because of the damage caused by the tsunami and nuclear disaster. Some of their automakers like Toyota, Nissan, Suzuki, Honda, and Mitsubishi had temporarily suspend their production. Many factories had also shutdown. Another problem that they have faced was the predictions from economist that they might lead to recession due to the disaster that they have faced. Their banks were on high alert to prevent or stop Yen from becoming too strong.
The effect of the tsunami in japan in the Philippines, since we have many domestic helpers and OFW that works in Japan who have been affected by the tsunami some of them lost their Jobs since some factories had stop their production. Another problem that they have face was on their earnings of money because no overtimes means no additional income and it means their remittance in the Philippines have lessen. On the other hand the calamity had also caused a positive outcome to the people affected. Their was a high demand for scavengers which means job for the people. But Japan had recovered from their lost.
I have realized that if you look deeper you would find out that calamities like this would
really affect the economy not only in negative ways but also positively.
some of the information's that I have used was from this site:
http://www.theguardian.com/world/2011/mar/13/japan-economy-recession-earthquake-tsunami
