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It said Japan's GDP would drop by over 9 percent in the year following such a disaster. The economy contracted 0.6 percent in 2011 but has failed to regain strong growth despite heavy government spending on rebuilding. The disaster panel recommended that companies with operations in the regions likely to be worst hit by a Nankai earthquake and tsunami accelerate plans to shift factories further inland or to higher ground. The panel's findings may build support for extra government spending on disaster preparedness and retrofitting buildings and other structures to make them more quake resistant. The Cabinet Office's report said the 169.5 trillion yen ($1.8 trillion) in damage to property and infrastructure could be more than halved if such measures are completed.
[Associated
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