How did the 2008 Sichuan earthquake affect the economy?

How did the 2008 Sichuan earthquake affect the economy?

The earthquake left about 4.8 million people homeless [1,2]. It caused direct economic losses of 845.1 billion Yuan, of which Sichuan Province accounted for 91%, Gansu Province 6%, and Shaanxi Province accounted for 3% [3]. After ten-years have passed, it is a good time to review what we learned from the event.

What were the impacts of the Sichuan earthquake?

At 2:28pm on 12 May 2008, a powerful earthquake struck China’s Sichuan Province. Some 87,500 people were killed, 45.5m affected and 14.4m displaced. Economic losses were estimated at $86 billion, with 21m buildings damaged.

How much did the Sichuan earthquake cost?

Millions of people were made homeless by the quake, the cost of which was estimated at $86 billion. Repair and rebuilding of housing and infrastructure in the affected areas were soon under way, though progress was slow in the remoter locations.

What were the secondary effects of the Sichuan earthquake?

Other impacts included that communications were brought to a halt and the cost of restoring infrastructure was put at $75 million. Some areas were cut off by landslides and building collapses left rubble everywhere. In Shifang, chemical plants collapsed killing hundreds and releasing toxic ammonia.

How does wealth affect the impact of an earthquake?

The size of the earthquake on the Richter scale – the higher on the scale, the more destruction it causes. Level of development – whether it occurs in a rich or a poor country. Richer countries will be more likely be able to predict, protect and prepare themselves from the effects of an earthquake.

How do earthquakes affect social?

A powerful earthquake can destroy buildings, factories, shops, roads, bridges and schools. These cause many people to become homeless. Furthermore, earthquakes can cause disruption to public services like transport systems and communication connections.

What happened during the Sichuan earthquake 2008?

On May 12, 2008, a magnitude-8.0 earthquake struck beneath a mountainous region in south-central China, toppling buildings and sending landslides crashing into cities, resulting in nearly 70,000 deaths.

What did China do after the Sichuan earthquake?

Reconstruction began soon after the quake and, within two years, the authorities had rebuilt and reinforced millions of homes and thousands of schools and hospitals. Basic infrastructure such as roads and water supplies had also been restored.

Is Sichuan rich?

Sichuan is an important province to China because of its abundant agricultural resources which include such Chinese staples as rice and wheat. Sichuan is also rich in mineral resources and is one of China’s main industrial centers.

What happened in the 2008 Sichuan earthquake?

What are economic impacts in geography?

Economic impacts refer to how the management methods used will affect how people work. How will this affect jobs and income? Will the measure make people richer or poorer – will it have a positive or negative impact on their livelihood?

Why are earthquakes more devastating in low income countries?

Many people in LICs (lower income countries) live in crowded urban areas with high population densities, very vulnerable to earthquakes. In the countryside, rural populations are high and people usually live in precarious shanty style dwellings with heavy tile or thatched rooves.