The effects of the tsunami in Japan on the local economy

Nobel Prize winner Woodrow Clark II, a proponent of sustainable development who visited Mauritius last year, and Eric Ng Ping Cheung, an economist, have both presented their views on the effects of the tsunami in Japan on the local economy.

When quizzed on the impact of the crisis in Japan, Clark II said that the impact felt on the island will be indirect.

The nobel prize winner said that enterprises in the car and large scale vehicles industry as well as information technology system will face some difficulties.

Clark further said that nuclear power plants will affect countries dealing with nuclear energy. He cited the example of California that constructed a power plant that can resist earthquakes of the magnitude of 7.6.

But, now with the Japan earthquake reaching a magnitude of 8.9, such nuclear power plants must be upgraded since they are not sufficiently equipped to deal with this kind oftragedy.

Clark II also spoke of the lessons which must be learned from this kind of an earthquake and tsunami.

He said, “the option for Mauritius is to explore and construct renewable energy and not to withhold environmental projects.” He also said that this is an opportunity for Mauritius to become a leader among small countries in the region.

The expert also said that we must reduce the consumption of goods which will negatively affect the environment and aim to be more efficient in our quest for energy.

He also said, “it is an opportunity for Mauritius to act as a leader among insular countries and that the country must be able to produce renewable energy and find solutions to the existing problems. The Chinese call it Wayjei.”

Woodrow Clark’s last book, The Third Industrial Revolution, will be published in autumn and focuses on the third industrial revolution which has already started in Asia and Europe.

Similarly, Eric Ng Ping Chuen also spoke about the effects of the tsunami on the local economy. He said, “The earthquake will not have any direct effect on the local economy. However,he maintains that our tourist receipts will suffer since there will be less tourists from Japan.”

The economist added that a rise in the price of petrol is also possible. “Prices of Japanese products such as microchips might also rise due to a scarcity of stocks,” he said.