Counting the Cost of Calamities

submitted by Toan Phan

economist.com - January 14, 2012 - ROTTERDAM, NETHERLANDS AND WASHINGTON, DC

Death rates from natural disasters are falling; and fears that they have become more common are misplaced. But their economic cost is rising relentlessly

THE world’s industrial supply chains were only just recovering from Japan’s earthquake and tsunami in March when a natural disaster severed them again in October. An unusually heavy monsoon season swelled rivers and overwhelmed reservoirs in northern Thailand. The floodwaters eventually reached Bangkok, causing a political crisis as residents fought over whose neighbourhoods would flood.

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