from Zero Hedge
As cases of the new coronavirus popped up around the globe, Chinese health officials managed to assuage the worries of the public, and the market, by insisting that the new, deadly coronavirus that emerged late last month in Wuhan had been ‘contained’ and that the outbreak would swiftly die down.
Despite imposing some draconian travel bans, it’s becoming increasingly clear that this isn’t going to happen. Even after quarantining an entire city of 11 million people – Wuhan is the 7th largest city in China and larger than any US city – experts are warning that it’s too late: The cat is already out of the bag.