SINGAPORE (Feb 7): In recent weeks, normal activities in Asia came to a standstill and borders were closed as governments fight to stop the spread of the coronavirus first reported in China.

More than 28,000 people have been infected and the virus has claimed over 500 lives. Markets, naturally, have been roiled. China’s economy, already slowing down in the last couple of years because of the trade war, will show ugly first-quarter numbers. Investment can recover down the road but consumption will be foregone permanently.

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