A Bank of Guam economist says the March 11 earthquake and tsunami in Japan is having severe effects on the Guam military buildup.
The Pacific Daily News quotes Joe Bradley as saying “Guam has returned to the economic limbo that we were in for more than a decade.”
Bradley says Guam’s employment figures are slowly sliding again, while prices have risen dramatically.
He says tourism arrivals from Japan, by far Guam’s largest market, are slowly improving, but economic growth in the United States is too slow.
“It is very hard for me to be optimistic,” Bradley said.