"Nuclear Crisis" Dragged The Global Economic Recovery

A crisis, a crisis originating in the Japanese archipelago, is spreading quietly on the earth.

At 14:46 on March 11, 2011, a magnitude 9 earthquake occurred near the east coast of Honshu Island in Japan. The focal depth was about 20 km, and the epicenter was about 180 km away from Sendai.

About an hour after the earthquake, a tsunami struck.

The waves of more than 10 meters are torn away from the northeast coast of Japan.

"Nuclear crisis" dragged the global economic recovery

If it's just an earthquake, if it's just a tsunami, it's not terrible.

The terrible thing is that the disaster did not end there.

The earthquake and tsunami released a ghost that shuddered the human race, triggering a rare nuclear crisis in the world in recent decades.

Fukushima nuclear power station may be a historical term written into the history of human social and economic development.

Of course, the first blow is the blow to the human mind.

Secondly, it is the reflection of human energy policy or direct development of nuclear energy.

What is the impact of the nuclear accident at Fukushima nuclear power plant on the Japanese islands and surrounding areas? It is too early to conclude, but it has put the nuclear safety issue before the whole of mankind.

Although many governments in the world have said that they will not continue to develop nuclear energy because of Japan's nuclear waste, they will learn lessons from it, but after all, many countries and regions have been vigilant: the European Union will carry out pressure tests on nuclear power plants, Germany temporarily shut down 7 old nuclear power plants, and the Chinese government has also announced a comprehensive review of nuclear power stations under construction.

It should be said that, in the long run, the Fukushima nuclear accident can not stop the pace of the peaceful use of nuclear energy for human beings, but the doubts about the nuclear security for a long time in the future have brought no small impact on the energy market.

At present, the market has predicted that Japan will shift more energy demand from nuclear power to natural gas, and natural gas prices and oil prices have responded.

Together with the instability of the main oil producing areas in West Asia and North Africa, it is hard to predict how high the oil price will impact the global economic recovery.

Global

Japan's shock wave, of course, is Japan's economy.

In March 15th, the Nikkei index fell by 10.55% as a result of the proliferation of nuclear radiation.

In the global exchange market, in March 17th, the US dollar to the yen exchange rate hit $1 to 76.32 yen, closing at 1 US dollars to 79.75 yen, a 16 year high.

Forced the Bank of Japan to immediately announce an increase of 5 trillion yen, buying Japanese bonds and risky assets to stabilize the yen exchange rate, and the Central Bank of the G-7 countries jointly decided in March 18th to immediately intervene in the Japanese yen exchange rate.

Japan's further release of liquidity has inevitably increased the fiscal deficit and intensified the global inflation risk.

Coupled with the Japanese government's post disaster reconstruction plan, some economists have predicted that the rise in commodity prices is inevitable, especially for the two representative commodities of steel and energy, and to pmit inflation to other parts of the world.

In Japan, disaster reduction and power supply constraints are restricting production. The reduction in workload will lead to a decline in Japanese incomes, forcing them to reduce consumption, which will further crack down on domestic demand.

This also means that Japan will probably take the lead in deflation after the disaster.

China's trade with Japan is affected.

Japan is the third largest country in China.