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DescriptionTedros Adhanom Ghebreyesus, Director-General of the World Health Organization, has said that the WHO is encouraged by the decline in the number of new coronavirus cases in China. However, he has stressed there is “no time for complacency.” 

The number of infections has exceeded 70,000 and the death toll has exceeded 2,000. Markets are worried about the spread of the respiratory disease outside China, namely in Japan and in South Korea. 

Most policymakers have said that the economic damage inflicted by the virus is still hard to assess. Apple, the world’s most valuable company, issued a profit warning due to production issues and falling sales in China. However, stock markets have remained relatively stable.

Gold has been the primary beneficiary of safe-haven flows related to the outbreak.