Does Natural Disaster Affect International Trade

Does Natural Disaster Affect International Trade? Introduction Nowadays, many industries are developing such as machines, technology, and other fields in the world. Therefore, experts make an accurate estimate what will happen to futures. Economists estimate rates of economic growth or impacts of crises or other economic phenomenon. However, what if natural disasters occur in somewhere, economists still can estimate economic phenomenon or prepare what they have to do? Do they expect exchange rates will fall, and their countries’ economy will crisis? For example, Japan s earthquake and tsunami. The authors expected that the volume of Japan’s exports reduced by between 0.5% and 1.6%, and the volume of imports increased between 0.4% and 1.3% (Hubert Escaith). These numbers can say strongly that the natural disaster impacted on Japan’s international trade. Furthermore, Japan has one of the largest economics in the world, and fourth largest in trades in goods and services in the world at that time (Hubert Escaith). This is an ex ample of natural disasters affecting international trade. Literature Review a. International natural disasters Author Hubert et al. (2011) examined the Tohoku earthquake and tsunami in Japan. In the results, Japan was impacted on both imports and exports by the Tohoku earthquake and tsunami. However, the impact on international trade mostly remained small. Also, another author Meng et al. (2015) studied the impact of natural disaster in China andShow MoreRelatedUnit 7-P1, M1 Essay examples1291 Words   |  6 PagesWorld War to prevent another such conflict. The organization is financed by giving its member states a substantial fee. 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