How did the earthquake affect the economy in Japan?
The tsunami had destroyed the Fukushima Daiichi Nuclear Power Plant, which causes the nuclear meltdown. The meltdown of the nuclear affects the Japan economy the most, because the nuclear is the energy source of the area in Tohoku, and because the meltdown of the nuclear power plant, most of the people in this area can’t go to work and will cost a lot of money for the Japanese government to help TEPCO to rebuild the facilities. It cost them about 1020000000 yen to rebuild the facilities. The second thing that will affect the Japan facilities is that the Japanese need to rebuild houses in the disaster zone. On the 10 February 2011, the Japanese government said there are 127,290 buildings totally collapsed, with a further 272,788 buildings 'half collapsed', and another 747,989 buildings partially damaged. The Japan Government said it will cost them 25 trillion yen to rebuild the disaster zone, and 5 years is needed to rebuild all of the buildings. The last thing it will affect the economy in Tohoku is the property loss during the tsunami struck Tohoku. The Japan government had estimated that there are about 14.5 billion to 34.6 billion USD lost from this disaster. The bank of Japan offered ¥15 trillion (US$183 billion) to the banking system on 14 March in an effort to normalize market conditions. This making it the costliest natural disaster in world history.