- How do these events increase business opportunities for Japanese?How do events increase business opportunity for foreigners?
- How do these events decreased business opportunity for Japan with other countries.How do these events decrease business operations businesses located in foreign countries.
- Do you think foreign countries were justified in banning imported ? Why or why Not?How does these ban affect global supply and demand for these foods?
- How does these ban affects the productivity, employment rates and GDP in Japan?
- Besides banning imported food from Japan what other measure foreign countries take? Would you feel safe buying food exported from Japan? Why or why not.
Japan accounts for some 60 percent of the global radiation screening costs." Bans on importing long silicon wafer supply, and some of the biggest silicon from Japan were imposed by Russia, China, Hong manufacturing units in Japan were damaged in Kong. India, the United States, Taiwan, and Sin. the disaster. Since silicon wafers are used in micro gapore. Seoul insisted that Japan provide safety cer devices and a wide range of electronic equipment, filicates for food products from the radiated areas, a shortfall in their supply has a negative effect on Restaurant owners in Mumbai and New Delhi global manufacturers.* assured customers that the restrictions wouldn't Due to business closures, disruptions to ports, and take sushi off the menu immediately. Restaurants slowed shipments from Japan, Western companies noticed an increase in supplier prices when order. such as Molycorp Inc. and Avalon Rare Metals were ing substitute goods from Thailand, Vietnam, or struggling to restart idle rare earth metal mines. China, and imported seafood from Scotland, " Rare earth metals are used in everything from com- Japan is bound to suffer tremendously from a puters and cellphones to armoured vehicles and decline in tourism. As well, most Japanese people wind turbines. feel a sense of responsibility toward their country After the nuclear leak, the demand for anti-radiation after such a national crisis and will choose not to drugs, specifically potassium iodine (KI) tablets, sky- travel outside the country for the short term. This rocketed not only in Japan, but also in the United will reduce tourism, at least temporarily, around the States and Canada, where "radiated" rain and world. 12 Japanese tourists are among the top inter. ocean water was feared." lodine tablets can pre- national visitors to the United States, comprising vent the body from absorbing radioactive iodine.' almost 20 percent of the visitors to Hawaii alone. Cancer is a key long-term risk from radiation expo- Hawaii projected a possible US$2 billion decline sure, and officials will undoubtedly be monitoring in tourism from Japan for 2011." Australia, Nepal the health outcomes of the population around and Indonesia predicted lower tourism numbers Fukushima for many years. The radiation leak will and from Japan." Japan supplies 3 to 4 percent o have a psychological impact on people who live the globe's jet fuel, including exports to Asia, and with the fear of radiation contamination as well as damage to fuel infrastructure facilities in Japan the stress of being displaced from their homes. could push jet fuel prices higher. 15 Food shortages occurred in Japan when radioac- What other changes have occurred or may occur du tive matter was found in food sources, thus creating to lessons learned from Japan's crisis? Think abo an increased demand for imported foods and a regulations (nuclear risk), cooperation among nation decreased demand for exported foods. Fishing ports insurance companies (life, home, disaster, etc.), n and vessels were damaged, and both aquaculture tional debt, and increased government spending and wild seedbeds for key products such as scal- roads and building repairs. While the insurance indu lops and oysters were washed away. Contamination try can handle many claims, the Japanese governm of seawater caused Japanese consumers to avoid may have to set up a compensation fund to help de fresh local seafood and choose canned or imported products." Japan allocated 700 million yen (more with the vast number of people affected by the disast than CA$9 million) to help pay for exporters' Japan's recovery will also be complicated by financ questions: how it will manage to pay the bills? DISCUSSION QUESTIONS 1. How do these events increase business opportunities for the Japanese? How do these events increase business opportunities for foreigners! 2. How do these events decrease business opportunities for Japan with other countries? How do these events decrease business operations for businesses located in foreign countries? 3. Do you think foreign countries were justified in banning imported food from Japan was justified? Why or wiry not? How does such a ban affect . supply and demand for these food products: How does such a ban affect the productivity, employment rates, and gross domestic product (GUY Japan? Why or why not? Japan? Besides banning imported food from Japan, what other measures could foreign countries take? Would you feel safe buying food exportes
OPENING DISCUSSION: GLOBAL TRADE Japan's Disaster Affects Imports, Exports, Many organizations, businesses, and governments and Productivity around the Globe rushed to Japan's aid, donating time, people, and money to help the disaster victims. For example, On March 11, 2011, an 8.9-magnitude earthquake off the BMO Financial Group, among others, donated the northeast coast of Japan's main island unleashed a $100 000 to the Red Cross to support disaster relief seven-metre (twenty-three-foot) tsunami and generated efforts.' The Salvation Army provided hot drinks more than fifty aftershocks, causing widespread ruin. In and packed meals to the many people whose particular, these natural disasters damaged a nuclear homes were destroyed or left without power, Doc- power plant in Fukushima, triggering the worst nuclear tors Without Borders had teams working throughout crisis since Chernobyl in Ukraine. Most tragic of course the country while World Vision focused on easing was the heavy loss of human life and devastation of liveli- the emotional and psychological stress that children hoods in the affected regions. Authorities said more than faced during this crisis. The Canadian government 20 000 people were confirmed dead or missing in the sent medical, biological, chemical, radiological, and weeks after the disaster. Countries around the world of- nuclear expertise, supplies, and equipment. fered their sympathy for Japan's loss and took action by Manufacturers across Japan shut down production sending aid to the traumatized nation. lines or cut back on output because of damage, It is evident that Japan has been severely incapaci- power shortages, and supply chain problems. The tated and will need some time to clean up, rebuild, and country's production of parts used by manufacturers re-establish a comfortable livelihood for its residents. around the world suffered major disruptions, with Let's take a closer look at Japan's crisis and consider how global car and technology industries particularly it affects multinational and global business operations. affected.3 (continued) Scanned with CamScanner
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