Friday's devastating
quake has dealt another blow to the ailing Japanese economy, already faced with mounting debts and falling exports.
Though it's early to estimate the losses from the massive earthquake and tsunami, the catastrophe is expected to put intense strain on Japan's economic resources.
This is the latest of the reverses hitting the world's third largest economy in recent weeks, after political uncertainty and more than expected economic contraction in the 2010 December quarter.
"This is a big disaster. Japanese economy has not been doing well... and (the calamity) is going to have a pretty strong impact on the Japanese economy," global consultancy Deloitte in India's Principal Economist Shanto Ghosh said.
In the developed world, Japan's debt burden is among the highest and is pegged at around 200 per cent of its yearly economic output.
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