As we all struggle to fathom the dimensions of this tragedy and to get a measure of its immediate economic effects, it is important that we look through the short term to the longer-term trends and the potential of our economy.
And fourth, Japan has strong economic and historical ties with, and is geographically close to, the rest of East Asia, which currently is the most rapidly expanding region in the world. It is now widely recognized that China is no longer merely a production base but also the world’s premier consumption market, demanding versatile goods and services.