China, where the majority of the confirmed cases are, has reported more than 80,000 infections in the mainland so far. To contain the COVID-19 outbreak, Chinese authorities locked down cities, restricted movements of millions and suspended business operations. The decision will slow down the world’s second-largest economy and drag down the global economy along the way.
The situation worsen when the disease is spreading rapidly around the world, with countries like Italy, Iran and South Korea reporting more than 7,000 cases each. Other European countries like France, Germany and Spain have also seen a recent spike beyond 1,000 cases.