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
1971 San Fernando earthquake after the Field Act, and damage and cleanup costs there totaled $42,000. Gas lines were broken and separation of the buildings' porches was due to lateral displacement of up to six inches. Following many of California's major earthquakes, lawmakers have acted quickly to develop legislation related to seismic safety. After the M6.4 1933 Long Beach earthquake the Field Act was passed the following month, and after the 1989 Loma Prieta earthquake, the Seismic Hazards Mapping Act and Senate Bill 1953 (hospital safety requirements) were established. Following the San Fernando event, earthquake engineers and seismologists from established scientific organizations, as well