The last days very often compare the current coronavirus with SARS, which broke out in China in 2003 and then made a lot of noise. Different parallels are being drawn with how that epidemic has affected the global economy and markets.
Firstly, in 2003, global markets after 3 years of decline (this also happens), finally began to unfold upward and all the negativity associated not only with the SARS virus was already put into quotes. Now, on the contrary, the markets are in a very overheated state.
Secondly, the current role of China in the global economy is not comparable to what it was in 2003. At that time, China's GDP amounted to 4% of world GDP, and now it is 15%. There is a difference? If the spread of the virus is not quickly stopped, this will lead to a significant slowdown in the Chinese economy, and will greatly affect the whole world. It’s enough just to at least see how much Chinese tourists spent abroad then and now. The colossal difference. And so in all sectors of the world economy.
So do not underestimate this coronavirus. If they cannot overcome it in the near future, then the world economy and markets can suffer very much.