Cities are in lockdown, including Wuhan where the outbreak originated. Shops and businesses are closed, while millions of people are banned from travelling.
The government has stopped its citizens joining overseas tour groups in an attempt to prevent the virus spreading abroad. However, a number of countries, including Thailand, Germany, Japan and the United States have reported confirmed cases of the disease.
So what price is China paying for the coronavirus outbreak? And what will the impact be on the global economy?
Einar Tangen – investment banker and political analyst
Rajiv Biswas – Asia Pacific chief economist for the risk consultancy I-H-S Markit
Gareth Leather – senior economist specializing in emerging