We have good news about the coronavirus, if the Chinese are telling the truth.
- The number of new Chinese cases dropped for a second straight day, the AP reports, with roughly half the number of new cases as this time last week.
- The head of emergencies for the World Health Organization called it “way too early to try to predict the beginning of the end,” but said the stabilization is "very reassuring."
The big picture: Economic aftershocks are still rippling through the global economy.
- In China: Worries are beginning to grow about stimulus efforts, Axios' Dion Rabouin reports, and migrant workers will be most negatively affected by the travel limits by local governments, Axios' Bethany Allen-Ebrahimian notes.
- In the U.S.: The travel industry thinks coronavirus could cost more than SARS, with an estimated "$5.8 billion in airfare and domestic spending this year."
- In Europe: The Mobile World Congress has been canceled, and manufacturers are increasingly worried about their supply chains. "I’m calling China every day," Daimler's CEO said at a news conference.
Between the lines: China has been praised for its genuinely ambitious response to this crisis, particularly in the midst of flu season, but...
- The Chinese government silenced doctors who initially raised alarms on the epidemic, the N.Y. Times reports.
- "Many people [say the WHO] ... gave too much weight to China’s concerns that [declaring a global health emergency] would damage its economy and its leadership’s image," the WSJ reports.
The bottom line: “I’m going to be optimistic that that is a sign their aggressive efforts have been effective, but I really do think it’s too soon to say that for sure not having hands on the data ourselves," the CDC’s Nancy Messonnier said today.