Impact on global GDP growth and earnings estimates
China: Primed for recovery
Europe: Vulnerable with fewer policy options
The US: Mild slowdown if the virus is contained
Market expectations of intervention remain high
 Source: Pandemic Risk, Olga B. Jones, World Bank, 2013.
 Source: Bloomberg, 27 February 2020.
 Source: Tsinghua University survey of 995 SMEs.
 Source: Fidelity International, 28 February 2020.