The tragic events in Japan may in the long run help improve the world economy. Right now you have centers of industrial output around the world. All our eggs are in a few baskets.
The centers in Japan have come to a grinding halt because of the disasters there driving down economic recovery. In order to avoid this in the future businesses should turn to a risk allocation model.
This model can easily be seen in mutual funds where instead of putting all your money in one stock you spread it around to a diverse portfolio of stocks.