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 Gatos, and other light damage in Holy City, where increased flow was observed at a water well. Farther away from the Santa Cruz Mountains, pieces of concrete fell from a parking structure at the Sunnyvale Town Center, a two-level shopping mall in Santa Clara County. More moderate damage resulted from the August 8, 1989, shock (intensity VII, "Very strong") when chimneys were toppled in Cupertino, Los Gatos, and Redwood Estates. Other damage included cracked walls and foundations and broken underground pipes. At the office of the Los Gatos City Manager, a window that was cracked had also been broken in