东日本大地震对国际资本市场的潜在影响

Potential Impact of East Japan Earthquake on Global Capital Market

此次东日本大地震,对日本东北地区的基础设施,以及实体经济的供应链产生了较大冲击,使日本的制造业受到了一定的影响。但由于日本的金融体制相当健全,应对危机的反应十分迅速,赈灾资金迅速到位,同时,在消除灾后日元升值压力方面,日本金融体系的反应也是适当的,从而使日本国内及海外资金的流向保持了相对安定。从短期看此次灾害对国际资本市场的影响不大,然而从中长期来看,如果日本不能借此契机对自身的结构性问题进行调整,将有可能面临财政破产的危机,届时则有可能对国际资本市场产生严重的影响。

The recent earthquake in East Japan has to some extent damaged the infrastructure in the affected area,hence shocking the supply chains of the real economy and manufacturing.However,thanks to its stable and developed financial system,its response to the crisis was quick and proper and the crisis relief funds have been allocated promptly after the disaster hit the nation.Furthermore,in handling the post-crisis yen appreciation,the monetary sector's response was also appropriate,hence maintaining stable capital flows both domestically and overseas.In the short term,the crisis has not had any significant impact on the global capital market.Nonetheless,in the longer term,if Japan is not able to tackle its deep-rooted structural problems,it may face the crisis of fiscal bankruptcy,which may in turn have a profound impact on the global capital market.