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Link here. In the past five days the number of people known to be infected has grown from about 450 to now more than 1,400, with deaths rising to 41 total. (The rate of deaths to those infected however has dropped, from 5% to less than 1%.) Also, a very small number of cases have been found in other countries throughout the world, limited so far to people who had recently been in the region of China with the most infections.
How serious is this epidemic? The rise in cases in only a week is concerning for sure, as very quickly the numbers are beginning to match the SARS epidemic in 2002-2003, which took a year to get to 8,000 infected. The so-far low death rate however suggests the disease is manageable.
The situation in China however is very serious. They have locked down regions with populations in the multi-millions, and the number of cases might soon strain their health system. Worse, we do not know if the numbers the non-transparent communist government is posting are accurate. There have been numerous rumors all week that the infection count is far higher than what has been publicly revealed. This could be true, or not. The rumors exist because no one trusts the communists to allow the truth to be published.
At the moment it still appears to me that, at least outside of China, the situation is under control. Whether it remains that way we can only wait and see.