Discuss the Fukushima Incident in the Context of Globalisation

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Discuss the Fukushima incident in the context of Globalisation

Globalisation is a continuous practice, which advances the affiliation between countries through methods such as the use of technology and the decrease in the barriers of trade, which enables financial and investment markets to operate internationally. (International business environments and operations 2011) The Fukushima incident became an international catastrophe on March 11th 2011 when three reactors at the fifteen largest power plant the Dai-ichi nuclear power plant in north Fukushima, exploded after the back-up electrical systems were flooded; this triggered the reactors to overheat and subsequently caused the explosions. This allowed radiation to escape from the reactor chambers. Due to the explosions the plants were left unable to produce any nuclear energy, it also had an effect on a range of exports including shipping and the food industry due to the contamination of these products, causing huge problems for the Japanese economy as it was unable to export goods to other economies whose countries were unable to receive the goods. (International Financial Law Review,2011), Countries such as the US, Hong Kong and China are amongst the most likely to be affected by the nuclear impact on Japan’s food industry as they will need to find alternative exporters of food products such as leaf vegetables, spinach and milk. This is because these products have been affected by the radiation; therefore to prevent the shortages in these goods alternative exporters will need to be found to support the high levels of demand. This shows that through the developing methods and techniques, the use of globalisation can prevent the cause of any major issues for the importing countries, if we were not actively involved in globalisation these countries may find it harder to import these products and be left facing a monopoly market, this would allow the exporting country to sell their products at higher prices...
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