Ernst & Young has strong confidence in Japan's economy despite the earthquake, tsunami and nuclear crisis, the company's Chairman and Chief Executive James S. Turley said on March 17.

Speaking at a press conference in Beijing, Turley expressed his deep condolences to the Japanese people but said he remained optimistic about Japan's economic stability and the world economic recovery.

"Of course, there is some turbulence in stock market. I think the collective efforts of the government of Japan and the government of the world will prevent the human tragedy from becoming a driver into a global, double, deeper recession," Turley said in answer to a question from the China.org.cn reporter.

Turley said prices of Japanese products, such as cars, computers, televisions, semiconductors, cameras and other electrical goods would rise in the short term. But saw no long-term effects of the crisis.

On the contrary, he said, reconstruction and rebuilding in disaster-hit zones would be "a new and key driver" for the economy, generating new jobs and business opportunities.

"The whole world should work together to help the people of Japan," he said.