As Coronavirus Cases in China overtake SARS, Investors Keep Watch
Posted on 01/29/2020
The number of new Wuhan coronavirus cases in January 2020 has cleared over 5,000 in China. To compare to the deadly 2003 SARS (severe acute respiratory syndrome) outbreak, it took six months to reach the 5,000 figure in China. According to the World Health Organization (WHO), China clocked 5,327 SARS cases between November 1, 2002 and July 31, 2003. The Chinese government officially reported the virus outbreak in Wuhan on December 31, 2019. According to China’s National Health Commission, the January 28, 2020, up from 4,515 on January 27, 2020. At January 29, 2020, 132 deaths have been linked to the coronavirus.
The Chinese government calculated the death rate of the new virus to be around 2% to 3%, versus the 7% mortality rate for SARS. It could take at least 12 months to find a new vaccine to combat the coronavirus.
The U.S. government has not banned travel/migration to and from China, but has warned people to avoid non-essential travel to mainland China. The U.S. government is contemplating suspending all China-U.S. flights. U.K. carrier British Airways disclosed they would halt airplane flights to and from mainland China. Other major airlines have canceled select routes.
Hong Kong has closed transport links to mainland China. In addition, Microsoft Corporation, Apple, Amazon, Google (part of Alphabet), and other major tech companies disclosed travel restrictions to and from China.
The virus has rapidly spread across Asia, with cases cropping up in Japan, Hong Kong, Macau, Singapore, Cambodia, Sri Lanka, South Korea, and Thailand. The United States, Germany, and France have reported cases. The United Arab Emirates also reported a case.