The Nuclear Energy and Economic Impacts of Japan’s Recent Crisis
Tuesday, May 24, 2011 from 6:00 PM to 8:30 PM (PDT)
Palo Alto, CA
As the Japanese citizens work hard to recover and rebuild after the March 11 disaster of earthquake, tsunami, and the nuclear catastrophe, the country and the world have been trying to sort out and learn from the resulting energy and economic impacts. What and how much will this disaster further worsen the country’ s already fragile and deflationary economy? Recent releases of economic data do not bode well at all. Record falls were seen in the month of March: the outputs across industries fell at 15.3% and household spending dropped at an annual rate of 8.5%. Overall exports have decreased a lot more than the imports. This increased gap points to one certain consequence -- Japan’ s trade surplus will drop tremendously. Some of the worst hits were the automobile industry: Toyota’ s and Nissan’ s outputs plunged over 50% while Honda’ s domestic output went down as much as 63%. As the world’ s third largest economy, the economic impacts go beyond Japan’ s borders as the nation is one of the biggest exporters and traders in the world. How may this crisis affect the global recovery from recent financial crisis there and in the US? The effects of the nuclear reactors catastrophe are not just limited to the human and environmental costs, but also to the very core of the country’ s heavy reliance on nuclear energy and the intimate connection between nuclear energy and industrial activities. For example, many factories had to shut down due to power outage from the nuclear reactors meltdown, leading to the aforementioned drop of industrial output.
This forum’ s distinguished panel of speakers will share with us their thoughts on both the economic and energy impacts in Japan and beyond. Mr. Michio Harada will give us an update on the current situation in Japan as well as the government’ s various initiatives in helping up the citizen locally and abroad. He will help us understand the various governmental and non-profit organizations’ efforts in recovering and rebuilding the affected areas from ground zero and up. Dr. Masahiko Aoki will take it a step further and discuss about the overall economic impacts and its implications in recovery in both near and long terms. He will also speak about ways governments can do to treat the economic blow in Japan and US. Dr. Burton Richter will discuss about the lessons we can learn from this nuclear disaster and how we can avoid any future incident and thus its direct negative impacts on the economy. He will share with us his thought on what sound and practical policy should be instituted to ensure safer nuclear energy production and use.
Keizai Society’s theme for the remainder of 2011 is "Recovery and Renewal – Toward a New Japan of Compassion and Growth." Going forward, all 2011 programs of Keizai Society will be dedicated to building awareness of the crisis in Japan and sustaining Japan’s recovery efforts. Also proceeds from these programs shall be donated to Keizai’s Japan Relief Fund. Please come and find out what the real impact of the disaster is and where we go from here to recover, renew and grow again.
When & Where
Keizai Society (http://keizai.org) is a Silicon Valley based business and professional networking organization. One of its primary purposes is to provide a venue of programs that showcase specialists with expertise on issues critical to the success of entrepreneurs and companies doing business with Japan and the U.S. Founded in 1990 in San Francisco, Keizai Society¹s audience includes people from the worlds of business, academia and politics in the Bay Area and elsewhere. Keizai Society enables broad yet intimate networking among its audience members. In addition to establishing a sense of collegiality, networking provides opportunities to exchange information, share advice, offer inspiration, and expand business possibilities. Among other benefits, Keizai Society participants report that they often receive business referrals and ideas how to expand and enrich their businesses.