Business Expert Comments On Effects Of Japan Disaster
Comments from UMaine business Professor John Mahon were included in a Bangor Daily News story about the ongoing economic effects of the earthquake and tsunami that hit Japan earlier this month. Mahon said food prices have started to rise on speculation, and the cost of borrowing may also rise as the Japanese are forced to borrow on international markets in order to rebuild the nation. The economic effects in Maine could be both positive and negative, Mahon added, as Japan will need a lot of construction materials such as wood in order to rebuild, but factory shutdowns in Japan could lead to rising prices in sectors such as electronics.