warn economists
Sam Fleming and Patrick Hosking
From: The Times
March 16, 2011 8:33AM
THE Japanese disaster could have profound knock-on effects around the world as confidence is battered and manufacturing supply chains are disrupted, leading economists have warned.
Kenneth Rogoff, a Harvard University academic and former chief economist at the International Monetary Fund, told The Times that investors were underestimating the potential for the crisis to spill over into other manufacturing sectors, damaging the global rebound.
"Japan being incapacitated by power outages and so on could have a multiplier effect throughout Asia," he said, adding that the crisis would also put tremendous strain on Japan's already unsustainable public finances.
Read it in: http://www.theaustralian.com.au/business/news
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