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Earthquakes: Big Economic Impact--on U.S. as Well

Earthquake and the tsunamis they cause are not only devasting to the countries hit. Since we now have a global economy, they can affect the rest of the world monetarily as well. Earthquake expert Thomas D. O'Rourke says, "The massive 8.9 earthquake that hit Japan will have a major INTERNATIONAL impact. Tsunamis have caused massive damage in Japan and will affect many countries along the Pacific Ocean, INCLUDING the US. This earthquake follows a devastating earthquake in New Zealand on Feb. 22, which resulted in direct economic losses in that country equal to 15% of its gross domestic product. If the most recent earthquake and tsunami cause only a fraction of this type of loss for Japan, there will be a global economic fallout."

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