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 included ground floor garages, which engineers refer to as a soft story building. In Santa Cruz, the Pacific Garden Mall was severely damaged, with falling debris killing three people, half of the six earthquake deaths in Santa Cruz and Monterey Counties. Some 31 buildings were damaged enough to warrant demolition, seven of which had been listed in the Santa Cruz Historic Building Survey. The four oldest were built in 1894, the five oldest withstood the 1906 San Francisco earthquake. Immediately, a number of civilians began to free victims from the rubble of Ford's Department Store and the Santa Cruz Coffee