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The Coronavirus Will Not Cripple China’s Economy

Summary:
Although the scope of the coronavirus outbreak exceeds that of SARS in 2003, current data suggest that the epidemic will likely reach a turning point in the next two weeks. That would mean China might conquer the virus in the first quarter, which is essential to mitigating the epidemic’s impact on overall growth in 2020. SHANGHAI – Just five days before the Chinese New Year, the authorities in Beijing finally declared the coronavirus epidemic that originated in Wuhan to be a major public health emergency. Because Wuhan’s municipal government had initially withheld information and failed to control the virus effectively, about five million residents and temporary workers left the city for the Lunar New Year holidays before the

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Although the scope of the coronavirus outbreak exceeds that of SARS in 2003, current data suggest that the epidemic will likely reach a turning point in the next two weeks. That would mean China might conquer the virus in the first quarter, which is essential to mitigating the epidemic’s impact on overall growth in 2020.

SHANGHAI – Just five days before the Chinese New Year, the authorities in Beijing finally declared the coronavirus epidemic that originated in Wuhan to be a major public health emergency. Because Wuhan’s municipal government had initially withheld information and failed to control the virus effectively, about five million residents and temporary workers left the city for the Lunar New Year holidays before the city was officially closed off on January 23. As a result, the virus spread rapidly throughout China and beyond, leading to the current high-profile international health emergency.

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