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Learning from Megadisasters: A Decade of Lessons from the Great East Japan Earthquake
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Authors: Shoko Takemoto, Naho Shibuya, and Keiko Sakoda
Today marks the ten-year anniversary of the Great East Japan Earthquake (GEJE), a mega-disaster that marked Japan and the world with its unprecedented scale of destruction. This feature story commemorates the disaster by reflecting on what it has taught us over the past decade in regards to infrastructure resilience, risk identification, reduction, and preparedness, and disaster risk finance. Since GEJE, the World Bank in partnership with the Government of Japan, especially through the Japan-World Bank Program on Mainstreaming Disaster Risk Management in Developing Countries has been working with Japanese and global partners to understand impact, response, and recovery from this megadisaster to identify larger lessons for disaster risk management (DRM).
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(Bloomberg) Investors betting on a U.S. recovery might be assuming too much in the way of price increases, according to Janus Henderson.Growth will pick up, says the global head of fixed income, Jim Cielinski. But investors anticipating a rebound in inflation may want to look at the Japanese experience, where massive government spending with low interest rates led to a collapse in volatility rather than surging yields, in his view.Against this backdrop, Treasuries look attractive as the benchmark 10-year yield approaches the 1.25%-1.5% range, Cielinski said in an interview. Inflation-linked bonds are past their best performance and the trade betting that the yield curve will steepen is “long in the tooth.”The call by Janus Henderson, which manages about $105 billion of fixed-income assets, is another sign of the division on Wall Street over the strength of the so-called reflation trade. While JPMorgan Asset Management says Treasury 10-year yields could almost double as
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