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Japan: 7-magnitude earthquake in Tokyo could cost economy $913 billion, says panel

December 24, 2013 - 6:00am

If a magnitude-7 earthquake strikes beneath Tokyo, Japan, it could cause an estimated 95 trillion Japanese yen ($913 billion) in economic losses, a government panel said.

The panel said such an earthquake has a high probability of striking within 30 years and could destroy more than 600,000 buildings, The Asahi Shimbun reported. The panel said in a report that in the worst-case scenario 1.33 million buildings could be destroyed.

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