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Monday, 14 March 2011 - Special report: Can Japan find New Deal after triple whammy? |
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    Read more with google mobile : Special report: Can Japan find New Deal after triple whammy? |

    Edition: U.S. Article Comments (2) Video Japan Japan grapples with nuclear crisis Crippled coastline: "It doesn't get worse than this" Factbox: What is happening inside reactors? Snapshot: Latest developments Special Report: Can Japan find "New Deal" Economy shudders, BOJ pumps cash Factbox: BOJ's monetary easing Analysis: Quake impact seen deep and long James Pethokoukis: Impact on growth Video: Explosion at second nuclear plant Follow Reuters Special report: Can Japan find "New Deal" after triple whammy? Tweet Share this Link this By Linda Sieg and Nathan Layne TOKYO (Reuters) - The Daiichi nuclear power plant in Fukushima is built right on the shoreline in northeast Japan. So when an 8.9 magnitude earth quake struck on Friday, the giant tsunami waves it spawned crashed over... Email Print Related News Snapshot: Developments after major Japan earthquake 11:54am EDT BOJ eases policy to shore up confidence, pumps cash 4:00am EDT Japan fights to avert nuclear meltdown after quake Sun, Mar 13 2011 Japan quake to keep stock investors wary Sun, Mar 13 2011 Special Report: Can Japan find "New Deal" after triple whammy? Sun, Mar 13 2011 Analysis & Opinion Tragic quake may add to inflation pressures Impact of earthquakes, natural disasters on economic growth in Japan Related Topics World » Japan » Natural Disasters » Related Video Widespread devastation in Japan 4:11am EDT Tales of survival in devastated Japan A street is flooded after an earthquake and tsunami struck Ishimaki City, Miyagi Prefecture in northern Japan March 13, 2011. Credit: Reuters/Kyodo By Linda Sieg and Nathan Layne TOKYO | Mon Mar 14, 2011 11:37am EDT TOKYO (Reuters) - The Daiichi nuclear power plant in Fukushima is built right on the shoreline in northeast Japan. So when an 8.9 magnitude earth quake struck on Friday, the giant tsunami waves it spawned crashed over the reactors and put them at risk of a meltdown. A hydrogen explosion rocked the plant on Monday, sending a huge cloud of smoke over the area while engineers flooded the three reactors in the complex with sea water in a desperate attempt to prevent what was shaping up as the worst nuclear emergency since the Chernobyl disaster 25 years ago. Nuclear fuel rods at one of the reactors may have become became fully exposed raising the risk they could melt down and cause a radioactive leak, Japanese news agency Jiji said. U.S. warships and planes helping the relief efforts have moved away from the coast temporarily because of low-level radiation from the stricken nuclear power plant, the U.S. Navy said on Monday. Singapore said it was checking Japanese food imports for radioactive contamination. The nuclear crisis was a triple whammy for Japan, coming on top of the earthquake -- the fifth strongest ever recorded -- and one of the most powerful tsunami in history, which caused scenes of unimaginable destruction in northeast Japan. Japan's Prime Minister Naoto Kan said the country was facing its biggest crisis since the end of the Second World War, which was when the United States dropped atomic bombs on Hiroshima and Nagasaki. "We're under scrutiny on whether we, the Japanese people, can overcome this crisis," Kan told a Sunday night news conference, his voice rising with emotion. The quake caused Japan's main island to shift 2.5 meters (8 feet) and moved the earth's axis 10 cm (2.5 inches), geologists say. The question now is whether the catastrophe will spur other seismic changes in Japan, which has yet to emerge from its "lost decades" of stagnant growth, aging population, and loss of international prestige following the collapse of the Japanese asset bubble in the early 1990s. At the very least, the drama at Fukushima is bound to shake the faith of many Japanese in the safety of their nuclear plants. The catastrophe will also sorely test Kan's deeply unpopular government. And the immense reconstruction effort that is coming may bring changes to rural Japan, where many of its older citizens live. Kan flew over the stricken nuclear plant and quake-hit areas on Saturday morning after ordering an evacuation in the area. He borrowed a military camouflage jacket with the name tag "Miyamoto" for a brief visit to the stricken nuclear plants. "I came to realize the huge magnitude of damage the tsunami has wrought," he told reporters on his return to Tokyo, this time wearing the blue uniform of the disaster response teams. Just before the quake hit on Friday, he was sitting slumped in his seat parliament listening to opposition demands for his resignation over yet another Japanese political funding scandal. But on Sunday night he was urging the public not to be pessimistic because Japan will enjoy "a New Deal-like" economic recovery on the back of the massive reconstruction task ahead. That must have sounded like cold comfort to millions left homeless and bereft in Japan's late winter countryside. SHIP IN NEIGHBOURHOOD 1 2 3 4 Next World Japan Natural Disasters Tweet this Share this Link this Digg this Email Reprints   We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. Comments (2) brutus.353 wrote: If any country can survive this disaster, it is Japan. Awesome nation. Mar 14, 2011 5:26am EDT  --  Report as abuse WRL wrote: Brutus is dead on. After what they achieved in the Meiji restoration more than one hundred years ago and the more recent rebuilding after WWII, I think Japan as a nation is capable of surviving nearly anything and emerging even stronger. I do hope the USA helps, though. Japan is just about the best friend the United States has. Mar 14, 2011 7:59am EDT  --  Report as abuse See All Comments » Add Your Comment Social Stream (What's this?) © Copyright 2011 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Reader Feedback   Mobile Newsletters RSS Podcasts Widgets Your View Analyst Research Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week FindLaw Reuters on Facebook Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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