Fukushima and the Coming Tokyo Earthquake: and what it will mean for a fragile world economy
tony smyth, author
This book details the story of two earthquakes, one that has already happened and one that is imminent, and their consequences, not only for Japan but also for the rest of the world. It is structured in a way that ‘chunks up’ in sections, from Japanese cultural elements, to the sequence of events after the earthquake and reactor meltdowns, through to global consequences of the two quakes. The radioactive leaks from the Fukushima reactors have led to an abandonment of nuclear power by many countries. This will have consequences in a world where exponential use of fossil fuels is causing global warming. In addition, this book shows that the world’s advanced economies are heavily dependent on Japanese technology and components, supplies of which will be seriously restrained when a large earthquake strikes near Tokyo. The cost of rebuilding one of the world’s biggest metropolises after a large earthquake has been estimated at up to $1.45 trillion, around a third of Japan’s GDP. At least part of this amount will likely come from selling a portion of Japan’s $1 trillion in US treasury bonds. This is turn will have knock-on effects on the world’s fragile economies.