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Japan Earthquake Could Cause Global Economic Fallout

Released: 11-Mar-2011 8:45 AM EST
Source Newsroom: Cornell University
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Newswise — “The massive 8.9 M earthquake that hit Japan will have a major international impact. Tsunamis have caused massive damage in Japan and will affect many countries along the Pacific Ocean, including the U.S.

“This earthquake follows a devastating earthquake in New Zealand on Feb. 22, which resulted in direct economic losses in that country equal to 15 percent of its gross domestic product. If the most recent earthquake and tsunami cause only a fraction of this type of loss for Japan, there will be a global economic fallout.”
--Thomas D. O’Rourke, earthquake expert and professor of Civil and Environmental Engineering at Cornell University

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