Japan is at serious risk of falling into a recession due to Friday’s tragic earthquake and tsunami, according to many leading economists. But Japan could recover quickly, sparing the global economy a significant shock.
The earthquake and tsunami is confirmed to have killed nearly 2,000 people and put several of the nation’s nuclear power reactors at risk of a meltdown, leaving many without power and nearly a half-million people in shelters.
While most of the industrial base of Japan was spared the worst of the disaster, few plants are back up and running yet as the country tries to come to grips with the crisis.
