Aftermath of the 2011 Tōhoku earthquake and tsunami highest in the world). This additional spending could hurt demand for government bonds. Silicon wafer production has been suspended at factories owned by Shin-Etsu Chemical and MEMC Electronic Materials, which together account for 25% of the global silicon wafer production. The suspension is expected to drastically impact semiconductor production, which is contingent on wafer availability. Some economic analysts consider that, ultimately, the catastrophe will improve Japan's economy, with increased job availability during restoration efforts. An analyst at JPMorgan Chase, citing the 1989 Loma Prieta earthquake in the San Francisco Bay Area and the Southern California 1994 Northridge earthquake, noted that
1989 Loma Prieta earthquake for the northern San Andreas Fault segment, the San Francisco Peninsula segment, and a portion of that segment which was referred to as the southern Santa Cruz Mountains segment. The thirty year probability for one or more M7 earthquakes in the study area was given as 50%, but because of a lack of information and low confidence, a 30% probability was assigned to the Southern Santa Cruz Mountains segment. Two moderate shocks, referred to as the Lake Elsman earthquakes by the USGS, occurred in the Santa Cruz Mountains region in June 1988 and again in August 1989. Following each event,