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 so officials could conduct visual inspection and damage assessment procedures. San Jose International Airport, Oakland International Airport and San Francisco International Airport all opened the next morning. Large cracks in Oakland's runway and taxiway reduced the usable length to two-thirds normal, and damage to the dike required quick remediation to avoid flooding the runway with water from the bay. Oakland Airport repair costs were assessed at $30 million. San Francisco Municipal Railway (Muni) lost all power to electric transit systems when the quake hit, but otherwise suffered little damage and no injuries to operators or riders. Cable cars and electric