Read the case study given below and answer the given questions OPENING DISCUSSION: GLOBAL TRADE Japan's Disaster
Fantastic news! We've Found the answer you've been seeking!
Question:
Read the case study given below and answer the given questions
Transcribed Image Text:
OPENING DISCUSSION: GLOBAL TRADE Japan's Disaster Affects Imports, Exports, and Productivity around the Globe On March 11, 2011, an 8.9-magnitude earthquake off the northeast coast of Japan's main island unleashed a seven-metre (twenty-three-foot) tsunami and generated more than fifty aftershocks, causing widespread ruin. In particular, these natural disasters damaged a nuclear power plant in Fukushima, triggering the worst nuclear crisis since Chernobyl in Ukraine. Most tragic of course was the heavy loss of human life and devastation of liveli- hoods in the affected regions. Authorities said more than 20 000 people were confirmed dead or missing in the weeks after the disaster. Countries around the world of- fered their sympathy for Japan's loss and took action by sending aid to the traumatized nation. It is evident that Japan has been severely incapaci- tated and will need some time to clean up, rebuild, and re-establish a comfortable livelihood for its residents. Let's take a closer look at Japan's crisis and consider how it affects multinational and global business operations. Many organizations, businesses, and governments rushed to Japan's aid, donating time, people, and money to help the disaster victims. For example, the BMO Financial Group, among others, donated $100 000 to the Red Cross to support disaster relief efforts. The Salvation Army provided hot drinks and packed meals to the many people whose homes were destroyed or left without power. Doc- tors Without Borders had teams working throughout the country while World Vision focused on easing the emotional and psychological stress that children faced during this crisis. The Canadian government sent medical, biological, chemical, radiological, and nuclear expertise, supplies, and equipment. Manufacturers across Japan shut down production lines or cut back on output because of damage, power shortages, and supply chain problems. The country's production of parts used by manufacturers around the world suffered major disruptions, with global car and technology industries particularly affected. (continued) OPENING DISCUSSION: GLOBAL TRADE Japan's Disaster Affects Imports, Exports, and Productivity around the Globe On March 11, 2011, an 8.9-magnitude earthquake off the northeast coast of Japan's main island unleashed a seven-metre (twenty-three-foot) tsunami and generated more than fifty aftershocks, causing widespread ruin. In particular, these natural disasters damaged a nuclear power plant in Fukushima, triggering the worst nuclear crisis since Chernobyl in Ukraine. Most tragic of course was the heavy loss of human life and devastation of liveli- hoods in the affected regions. Authorities said more than 20 000 people were confirmed dead or missing in the weeks after the disaster. Countries around the world of- fered their sympathy for Japan's loss and took action by sending aid to the traumatized nation. It is evident that Japan has been severely incapaci- tated and will need some time to clean up, rebuild, and re-establish a comfortable livelihood for its residents. Let's take a closer look at Japan's crisis and consider how it affects multinational and global business operations. Many organizations, businesses, and governments rushed to Japan's aid, donating time, people, and money to help the disaster victims. For example, the BMO Financial Group, among others, donated $100 000 to the Red Cross to support disaster relief efforts. The Salvation Army provided hot drinks and packed meals to the many people whose homes were destroyed or left without power. Doc- tors Without Borders had teams working throughout the country while World Vision focused on easing the emotional and psychological stress that children faced during this crisis. The Canadian government sent medical, biological, chemical, radiological, and nuclear expertise, supplies, and equipment. Manufacturers across Japan shut down production lines or cut back on output because of damage, power shortages, and supply chain problems. The country's production of parts used by manufacturers around the world suffered major disruptions, with global car and technology industries particularly affected. (continued)
Expert Answer:
Answer rating: 100% (QA)
Answer 1 The events described in the case increase business opportunities ... View the full answer
Related Book For
Behavioral Corporate Finance Concepts And Cases For Teaching Behavioral Finance
ISBN: 9781259277207
2nd Edition
Authors: Hersh Shefrin
Posted Date:
Students also viewed these general management questions
-
Read the case study below and answer the questions. SHORT RUN STABILIZATION AND LONG RUN COMPETITIVENESS: THE LAVITAN CASE Growth of a young country Latvia a small, young country on the east coast...
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
The following items are dropped from an airplane. Rank them in order from lowest terminal speed to highest and justify your ranking. (a) Bowling ball (b) Beach ball (c) Spear or javelin (pointing...
-
1. Why is a moderator needed in a normal uranium fission reactor? (a) To increase the rate of neutron capture by uranium-235. (b) To increase the rate of neutron capture by uranium-238. (c) To...
-
The Baltimore Sun (Haney, 21 February 1995) reported on a study by Dr. Sara Harkness in which she compared the sleep patterns of 6-month-old infants in the United States and the Netherlands. She...
-
a. Beginning with the score function for the logit case in equation (11.5), show that the information matrix can be expressed as \[\mathbf{I}(\boldsymbol{\beta})=\sum_{i=1}^{n} \sigma_{i}^{2}...
-
McIver's Swimwear Distributors is a relatively small, privately held swimwear distribution company that operates in the Midwest and handles several product lines, including footwear, clothing, and...
-
What is the importance of time (n) number of years in TVM? What is the importance of the interest rate (R) in TVM? What is the importance of the initial amount of money someone chooses to invest (PV)
-
The International Auditing and Assurance Standards Board (IAASB) sets high-quality international standards for auditing, assurance, and quality control that strengthen public confidence in the global...
-
Indicate whether each of the following statements is true or false by writing T or F i n t he a nswer c olumn. Most countries recognize U.S. patents but not copyrights.
-
The transfer of duties to a third party by a party to a contract. a. assignee b. assignment c. assignor d. bankrupt e. delegation f. guarantor g. incidental benefi ciary h. novation i....
-
The interest in real property that relates to ownership. a. accession b. adverse pos session c. in causa mortis d. eminent doma in e. fee s imple f. freehold e state g. grantee h. inter vivos i....
-
Indicate whether each of the following statements is true or false by writing T or F i n t he a nswer c olumn. Environmental regulation is not yet a distinct area of the law.
-
The right of a governmental or public body to acquire privately held real property needed for a public purpose. a. accession b. adverse pos session c. in causa mortis d. eminent doma in e. fee s...
-
Estimate the sea-level lift off distance for the airplane in Prob. 6.3. Assume a paved runway. Also, during the ground roll, the angle of attack is restricted by the requirement that the tail not...
-
This problem continues the Draper Consulting, Inc., situation from Problem 12-45 of Chapter 12. In October, Draper has the following transactions related to its common shares: Oct 1 Draper...
-
On January 31, 2005, an article appeared in The Wall Street Journal comparing the relative performance of stocks in the S&P 500 that pay dividends with stocks in the S&P 500 that do not pay...
-
1. Describe the most important factors that impeded the Packard Foundation from diversifying, but not the Hewlett Foundation. 2. With five family members and the former CEO of HP comprising half the...
-
Consider the contention that excessive optimism and overconfidence are important char- acteristics of leadership. Might these traits help managers initiate and complete daunting projects that they...
-
Kinney A.. had the following assets and liabilities on the dates indicated. Kinney began business on January 1, 2024, with an investment of 100,000. Instructions From an analysis of the change in...
-
Two items are omitted from each of the following summaries of statement of financial position and income statement data for two proprietorships for the year 2025, Greenes Goods and Solar Enterprises....
-
Listed below are some items found in the financial statements of Min-Seo Promotions. Indicate in which financial statement(s) the following items would appear. a. Service revenue. b. Equipment. c....
Study smarter with the SolutionInn App