JAPAN’S PEOPLE

JAPAN'S ECONOMY CAN RETURN TO NORMAL BUT WHAT ABOUT ITS SOCIETY?

When trying to make sense of the incomprehensible it is tempting to take refuge in facts and figures.

Damian Reece

The Telegraph, March 15, 2011

In assessing the impact of Japan's superquake, the reaction of share prices and currencies gives us something tangible to grasp. Guestimates of what it might mean for the country's economic activity provide orientation in an otherwise chaotic situation of human misery and danger.

But while it's natural to be asking what Friday's disaster means in numbers, other, more important questions remain.

Japan's own market finished 6pc lower on the first full day of trading since the catastrophe. Mitsubishi Motors was down 11.8pc, Nissan 9.5pc and Toyota 7.9pc as the country's car industry was halted.

Toshiba fell more than 16pc, Sony by 9.2pc and Panasonic by 8.1pc as Japan's famous, export-led electronics industry suffered disruptions including rolling energy blackouts. Banks were also hard hit. Mizuho Financial Group was off 10.5pc. Insurers around the world reeled, including our own Lloyd's market, as the likely bill rose toward $35bn

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