Until Friday afternoon the biggest risks for Japan’s economic recovery were high oil prices, uncertain export demand and a looming budget showdown between the faltering government and an emboldened opposition.
The huge earthquake that hit off the coast of northeastern Miyagi prefecture was a harsh reminder of the more elemental dangers that can threaten economic activity on the crowded and seismically vulnerable Japanese archipelago.
Weighing the full implications of the natural disaster will take time. Officials and rescue services were on Friday still struggling to estimate the scale of the damage and casualties in the stricken areas.
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