Says that the revision reflects a severe but short-lived economic impact
They also say that Asia Pacific economic growth is to slow as coronavirus weakens demand and disrupts supply chains, adding that a push towards intra-regional trade will also amplify the impact of lower Chinese growth this year.
Pretty much telling the story as it is but for now, most of these forecasts and outlooks tend to pin the coronavirus outbreak impact for around 4-5 months - similar to that of SARS - but I would argue that such a situation is 'best-case scenario'.
I'm still pretty skeptical that the global economy will be able to move back to normal even until the end of the year. With the social media echo chamber being as great and loud as it is today, travel and services will likely stay impacted over the next 6-12 months.
