I hate to say we look like the Keystone Kop's, but we do. After people are found to have the disease, how are they permitted to leave the state. If they left by plane, that's potentially hundreds exposed. Just leaving without being quarantined could infect hundreds, and no telling how many they might infect.
If we don't have a way of treating and curing essentially all who acquire it, pandemic is probably a proper description of what's happening.
The confoundment is that most people with Corona virus (covid-19) get cold like symptoms and most of those, currently, go undiagnosed, so the mortality rate might be very difficult to assess. Censoring and poor testing probably make this, ironically, seem more deadly than it might really be on a percentage level of people infected.
AND in the USA: first death:: 8 min ago Investigation into US coronavirus death suggests person became ill through community spread From CNN Health’s Jamie Gumbrecht
The Washington woman who died from the novel coronavirus appears to have become ill through community spread, says Dr. Robert Redfield, director of the US Centers for Disease Control and Prevention.
“The investigation at this time shows no evidence of link to travel or a known contact,” Redfield told reporters at the White House on Saturday. Trump said there are now 22 cases of the novel coronavirus in the United States. That number does not include individuals repatriated to the United States from Wuhan, China, or from the Diamond Princess cruise ship. Those cases have been counted separately by the CDC.
COVID 19 cases by Country: https://www.cdc.gov/coronavirus/2019-ncov/locations-confirmed-cases.html ALARMING how many countries have confirmed cases: largely plane travel; cruise ship and worst: "community spread" Italy #1 in Europe 1200 cases Germany now has 48 cases, making it the second most infected European country after Italy.
Looks like ALL of pre COVID19 Europe was on edge of recession AND WORST NOW w/Covid19 with SHAKY FINANCES: NEGATIVE INTEREST RATES!
BEGINNING ECONOMIC IMPACT: China factory activity shrank at its fastest rate on record in February PUBLISHED FRI, FEB 28 20209:45 PM ESTUPDATED FRI, FEB 28 20209:55 PM EST Reuters KEY POINTS China’s official Purchasing Managers’ Index (PMI) fell to a record low of 35.7 in February from 50.0 in January. The data highlight the damage from the coronavirus outbreak on the world’s second-largest economy. The results suggest deepening cracks in an economy already hit by the trade war.
What does the coronavirus mean for China’s economy? Factory activity in China contracted at the fastest pace on record in February, highlighting the damage from the coronavirus outbreak on the world’s second-largest economy.
China’s official Purchasing Managers’ Index (PMI) fell to a record low of 35.7 in February from 50.0 in January, the National Bureau of Statistics said on Saturday, well below the 50-point mark that separates monthly growth from contraction. Analysts polled by Reuters expected the February PMI to come in at 46.0.
The somber readings provide the first official snapshot of the state of the Chinese economy since the outbreak of the coronavirus epidemic which has killed almost 3,000 people in mainland China and infected about 80,000.
The results suggest deepening cracks in an economy already hit by the trade war as the coronavirus forces widespread transport curbs and tough public health measures which have paralyzed economic activity.
China’s economy is widely expected to suffer another sharp blow in the first quarter of this year, pressuring policymakers to unveil more stimulus measures.
Nomura expects first-quarter growth to be at 2.0% year-on-year while Capital Economics estimates China’s economy would contract outright in year-on-year terms this quarter, for the first time since at least the 1990s.
GP 200229 china pmi factory Workers work at a vehicle chair manufacture factory in Lintong District of Xi’an, northwest China’s Shaanxi Province, Feb. 26, 2020. Xinhua | Liu Xiao | Getty Images A sub-index of manufacturing production nosedived to 27.8 in February from January’s 51.3 while a reading of new orders plunged to 29.3, down from 51.4 a month earlier.
Factories continued to lose jobs at the fastest pace in years as labor conditions remained tight amid the travel restrictions.
China’s leaders have urged local governments, factories and workers to re-start operations as soon as possible in less affected regions. But the response has been slow and many migrant workers — including those in worst-hit Hubei province — have yet to return to work due to stringent quarantine rules and ongoing travel bans.
Official data showed that only about 30% of China’s small- and medium-sized companies had resumed production as of Wednesday. Some firms that have restarted work are reportedly running below normal capacity.
Small- and mid-size firms account for more than 80% of nationwide employment and over 60% of gross domestic product.
Global outbreak could prolong China’s pain As the coronavirus spreads to more countries, some analysts have warned that the impact on global supply chains could risk dampening the subsequent recovery for Chinese manufacturers.
“Even if labor shortages in China start to ease, some factories may run into problems resuming normal production if outbreaks in other countries mean they have trouble sourcing intermediate goods,” Julian Evans-Pritchard, senior China economist at Capital Economics, said in a note on Friday.
Economists at Morgan Stanley have warned of a pronounced impact on first-quarter global growth, with rising risks of it extending into the second quarter this year.
China’s services sector activity also posted the deepest contraction on record, with official non-manufacturing PMI dropping to 29.6, from 54.1 in January, a separate NBS survey showed.
China’s economy has transitioned more towards services since the SARS coronavirus epidemic in 2002-2003, and the sector now accounts for about 60% of the country’s Gross Domestic Product (GDP).
Transportation, tourism, catering and entertainment sectors have been hard hit during the coronavirus outbreak as people avoid crowded areas.
A sub-index of construction activity, a key driver of growth, stood at 26.6, down from 59.7 in January.
Expecting MORE collateral damage to China's economy and Europe's courtesy of BIG Chinese DEBTS DUE that may have Domino Effects. WW Banking System resources will be tested IMHO.
When so much of the world has been dependent on low cost mfg AND GROWTH from and in China (ie Starbucks has 4,000 stores there and is SBUX's 2nd largest market next to US; 70% of all shoes bought in US is made in China!; China is the world's computer hardware and micro electronics capital etc) and their awakening from the Sleeping Giant since 1990's and the US's
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