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
San Francisco Bay during earthquakes, and most of the major damage close to the Bay in the Loma Prieta earthquake of 1989 occurred to structures on these areas. The Marina District of San Francisco, hard hit by the 1989 earthquake, was built on fill that had been placed there for the Panama-Pacific International Exposition, although liquefaction did not occur on a large scale. In the 1990s, San Francisco International Airport proposed filling in hundreds more acres to extend its overcrowded international runways in exchange for purchasing other parts of the bay and converting them back to wetlands. The idea was, and remains, controversial.