Read the case study given below and answer the given questions OPENING DISCUSSION: GLOBAL TRADE Japan's Disaster

Read the case study given below and answer the given questions

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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)

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Answer 1 The events described in the case increase business opportunities ... View the full answer