In a Worcester Business Journal article, Kolleen Rask, professor of economics at the College of the Holy Cross, provided insight into how the Japan earthquake and tsunami could impact businesses thousands of miles away in Central Massachusetts.
Because Massachusetts and Japan are closely linked through trade, Rask noted that the recent natural disasters are likely to disrupt some supply networks that exist between companies. “That’s the short-term concern,” Rask said. “Are people going to be able to get parts?” Japan’s ability to rebuild and recover quickly will impact whether businesses will begin to seek alternate suppliers in other countries, she added.
Overall, Japan has been a valuable market for U.S. businesses, Rask said. “It’s a high-tech market,” and “It’s a very well-organized market.”
This “Holy Cross in the News” item by Christine McEnery ’11.
