Sunday, August 15, 2010

THE EFFECTS OF TSUNAMI DISASTER TO ECONOMICS ON POOR COUNTRY

Economics is a social that is concerned with the production, distribution, and consumptions of good and services. Tsunami disaster happened at 24.11.2004 at certain poor country like Sri Lanka, Thailand, and Aceh, Indonesia which is affected the economics growth.
The total of loss was very high and the government had spent more money to reconstruct the building that destroyed because of this disaster. The government has estimated that Aceh will require some $4bn over the next five years. Sri Lanka faces a hefty reconstruction bill, since its damaged infrastructure was more developed than in many affected areas. The Asian Development Bank estimates the reconstruction cost at $1.5bn. More worrying still is the longer-term effect on the crucial tourism industry. Besides, the less of investor that interest to invest at the stock exchange made the economy became worst. This is because the investor is one of the important economy developers in these countries.
The International Labour Organisation has estimated that some 1 million jobs have been lost in Indonesia and Sri Lanka because of this disaster. This condition made the demand and supply decrease and also affected import and export activities which is made the economy moved slower. At India South some 70% of the islands' jetties have been damaged then made trouble for the fishing industry which is source of two-thirds of local employment. On other hand it also made many people lost their permanent jobs
Economy event in these countries had been affected by tsunami disaster. In conclusion, it showed many changes to theses country before and after tsunami especially in economy development. Every country must beware with the economy event that will affect their country with any things happen.

SHARIFAH MUZNAH BT SYED ABDUL RAHMAN..104360

No comments:

Post a Comment