The appalling track record of Japan's nuclear industry

The threat of a nuclear disaster in Japan has investors across the world panicking. And they may be right to do so – the country's nuclear industry has an appalling track record when it comes to covering up past incidents, says Merryn Somerset Webb.

There has been much talk since the beginning of the continually shocking crisis in Japan about the stoicism of the population, their discipline and their unselfishness. If this had to happen anywhere, say the columnists, Japan is the place best socially able to cope from it.

I have no idea if this is true or not. I suspect that it is a piece of fairly feeble stereotyping in that were a similar crisis to hit here we too would queue rather than fight at the supermarket. History shows the vast majority of people becoming better people in the face of crisis in the immediate term at least.

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Merryn Somerset Webb

Merryn Somerset Webb started her career in Tokyo at public broadcaster NHK before becoming a Japanese equity broker at what was then Warburgs. She went on to work at SBC and UBS without moving from her desk in Kamiyacho (it was the age of mergers).

After five years in Japan she returned to work in the UK at Paribas. This soon became BNP Paribas. Again, no desk move was required. On leaving the City, Merryn helped The Week magazine with its City pages before becoming the launch editor of MoneyWeek in 2000 and taking on columns first in the Sunday Times and then in 2009 in the Financial Times

Twenty years on, MoneyWeek is the best-selling financial magazine in the UK. Merryn was its Editor in Chief until 2022. She is now a senior columnist at Bloomberg and host of the Merryn Talks Money podcast -  but still writes for Moneyweek monthly. 

Merryn is also is a non executive director of two investment trusts – BlackRock Throgmorton, and the Murray Income Investment Trust.