How preparing for disasters is critical for Apec economies | Bangkok Post: business

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How preparing for disasters is critical for Apec economies

  • Published: | Viewed: 1,702 | Comments: 0
  • Newspaper section: Asia focus
  • Writer: Dr Li Wei-Sen
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Hurricane Sandy in late October disrupted the US economy in dramatic ways, stalling mass transport, closing businesses, and leaving millions without power. The damage will exceed US$20 billion, causing hardship that will be felt on a global scale. 

For the first time since 1888, trading on the New York Stock Exchange was suspended for two days, incurring losses in the tens of millions of dollars in revenues. New York’s three major airports were also shut down, grounding 13,500 flights and adding to the economic toil.

The impact of any large-scale disasters is palpable and its enduring effects often go beyond domestic borders, especially in an interdependent world.

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