Impacts from natural disasters vary from developed nations to developing countries.
Natural disasters impact developed nations and under-developed countries differently. According to the World Bank, Japan and the United States have two of the strongest economies in the world. Both have fallen victim to major natural disasters.
In 2012, Superstorm Sandy raked across the East Coast, becoming the second-costliest tropical storm in U.S. history. In March 2011, Japan was struck by the costliest natural disaster in human history, an earthquake that triggered a deadly tsunami, damaging over $235 billion worth of property.
Both disasters destroyed property but pale in comparison to the short-run and long-run effects that the deadly 8.0-magnitude earthquake that killed over 230,000 Haitians, placing their country in an economic choke hold.
Jalelah Ahmed explains the economic reasons why developed and developing countries differ when faced with natural disaster in her latest Earth Matters.
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