Why is the ring of fire important?

"The Ring of Fire" is the name given to a series of volcanoes in the Pacific Ocean. This is a horse-shoe shaped area and has a length of about 40,000 km. This region is famous for earthquakes and volcanic eruptions. More than three-fourths of the world's volcanoes are present in this region. This area includes countries like Japan, Chile, New Zealand, Canada, etc. This region is home to most of the largest earthquakes and largest volcanic eruptions ever experienced.
The Ring of Fire has resulted from the subduction process. In this process, the heavier oceanic tectonic plates continuously slip under the lighter continental plates. The Ring of Fire is home to the majority of subduction zones of Earth. This area is also the home to the deepest trenches in the world that form as the subducting plate bends downwards.
Thus, there are a number of reasons for the significance of this area.
http://volcano.oregonstate.edu/what-quotring-firequot