China has once again reported another jump in Wuhan Coronavirus Friday after changing its approach to diagnosing and counting infections, dousing hopes that the deadly viral outbreak is petering out.
COVID-19 Coronavirus Outbreak - CURRENT REPORTED STATISTICS (2/14/2020):
- Coronavirus Cases: 64,473
- Currently Infected Patients – 55,907
- Deaths: 1,384
- Serious or Critical Condition: 10,613
- Recovered: 7,182
By James DiGeorgia
The Chinese government’s official count of Wuhan Coronavirus infections grew by another 5,000, putting the total number of recognized cases at 64,473; six more deaths were also reported from the Coronavirus now being referred to a COVAD-19. The global health emergency and the economic fallout are continuing to mount. Flower sellers in China are reporting retail sales fell up to 95% this Valentine’s Day.
The Chinese government is enacting “wartime” measures, which include sealing off residential complexes and restricting traffic to only essential vehicles on the roads. Authorities in Yunmeng County (another area within Hubei province) have ordered anyone attempting to breach the lockdown “at compounds, buildings, or road connections” detained.
Beijing, the capital of China, is now requiring everyone returning to Beijing would be required to isolate themselves for 14 days. According to an article post of Chinese State-run TV’s website announcement of the new policy, anyone who does not comply with this self-imposed quarantine…“shall be held accountable according to law.” This latest emergency order was issued by a Communist Party “leading group” at the municipal level, not the national Communist Party.
China disinfects entire cities to fight Wuhan Coronavirus (COVAD-19) outbreak.
Meanwhile, the effect of the Wuhan Coronavirus is so serious Singapore’s leader warned of a possible recession as a result of the spread of the virus and has imposed travel curbs that will likely slam the countries economy. Singapore has confirmed nine new cases as of Friday.
In Japan, ten people were evacuated from the Diamond Princess Cruise ship are now in serious condition, as the cruise industry worldwide is seeing bookings plummet and expecting severe losses over just the fear the Coronavirus will discourage present and future potential travelers.
Jim Cramer on CNBC’s Mad Money warned last night that he doesn’t believe the true numbers that are being released and is warning investors to be careful. This falls in line with Economist Mohamed El-Erian Allianz chief economic advisor and ex-Pimco guru warnings to investors not to buy declines in the stock market like they might have done before the Coronavirus. Elo-Erian believes the virus outbreak is going to take a significant toll on the Chinese economy and hurt global growth. El-Erian said on “Squawk Box.” recently…
“For a long time, I thought the market sentiment was so strong that we could overcome a mounting list of economic uncertainty… But the coronavirus is different. It is big. It’s going to paralyze China. It’s going to cascade throughout the global economy.”
Michael London, one of the co-editors of World Opportunity Investor continues to warn his subscribers that the official count could be tremendously undercounted and reported. We may never learn the true cost of human life and aguish this virus is subjecting on the Chinese populous. The Chinese Central Bank is pumping in tens of billions to prevent a huge stock market crash in their markets and getting plenty of help from the Federal Reserve to keep the U.S. equities markets steady. The operative stock market strategy for investors is to be very conservative until it’s clear that this global health emergency doesn’t become reclassified by the World Health Organization as being officially a pandemic.
Michael London remarked that while several promises to allow U.S. health experts from the Centers for Disease Control and Prevention to travel to China to help with diagnostics and tracking down the needed data, the pledges and promises have not been fulfilled. The Chinese may be hiding an outbreak that has already infected as many as half a million of its citizens.