Editor's note: This piece is based on the individual conjectures of the author and doesn't represent FXStreet's view.
- While China's Coronavirus (CoV) death toll rises to at least 80 from 56, China could be covering up the true picture to avoid a panic.
- The WSJ and NYT reported on events which could raise questions over the real number of infections and contagion.
- Risk-off flows weighing on equity futures and supporting the yen in Asia.
While China's Coronavirus (CoV) death toll rises to at least 80 from 56, with 2744 confirmed cases, there are some reports that allude to the possibility that China could be suppressing the full extent of CoV's lethality by keeping the mortality rate of the coronavirus artificially low. It may appear to some that there is an underlying incentive to underreport the true extent of the epidemic for as long as possible to avoid a panic.
Casting minds back to 2003, from an article written in the New York Times, it was reported that a Chinese doctor exposed the cover-up of China’s SARS outbreak. Dr. Jiang disclosed in a letter circulated to international news organizations that at least 100 people were being treated in Beijing hospitals for severe acute respiratory syndrome, or SARS. At the time, the Chinese medical authorities were asserting that the entire nation had only a handful of cases of the disease. The revelation prompted China’s top leaders to acknowledge that they had provided false information about the epidemic. The health minister and the mayor of Beijing were removed from their posts.
This time around, in a news written by the Wall Street Journal, (WSJ), it is stated that instead of putting down Coronavirus as the cause of death for an unknown number of Wuhan casualties, China's coroners and hospitals merely ascribe some death to "viral pneumonia":
A 53-year-old fitness trainer died on Wednesday after checking into a hospital in Wuhan a little more than a week earlier, said his niece. His family had expected the death certificate to reflect the deadly coronavirus, because as his condition deteriorated, his doctors told his family he was suffering from an untreatable virus in his lungs. Instead, it recorded “severe pneumonia” as the cause of death, she said. The relatives of two other people who died in separate hospitals in Wuhan this week also described similar situations, saying the causes of death had been given as “viral pneumonia,”
– reported in the WSJ, which gives us an insight into how China could be keeping the mortality rate of the coronavirus artificially low to void a panic:
"There are likely to be many times more cases in Wuhan than officially confirmed,” said Neil Ferguson, a disease modeller at Imperial College London, estimating as many as 4,000 people may have been infected in Wuhan.
If this was the case, the forecast of a UK expert, (Dr Jonathan Read), on the transmission and evolutionary dynamics of infectious diseases which was recently published in a paper and read, "our model predicts the number of infected people in Wuhan to be greater than 250,000 (prediction interval, 164,602 to 351,396)," could be seriously underestimated. Dr Jonathan Read said an explosion in the number of cases is less than two weeks away.
Market implications
US S&P 500 futures are falling more than 1 pct in Asian trade on worries about CoV and USD/JPY dropped below the 109 handle.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks

EUR/USD clings to gains above 1.1500
Following the U-turn in the US Dollar, EUR/USD rose to the 1.1550 region on Monday, where a decent resistance seems to have emerged so far. In the meantime, the Greenback continues to suffer the dovish message from FOMC’s Bowman, while geopolitical concerns continue to limit the downside.

Could Iran block the Strait of Hormuz? Why Oil is on edge after US strikes
As the Israel-Iran conflict reaches new heights, an old threat is coming back to haunt the markets: that of the closure of the Strait of Hormuz. This narrow arm of the sea in the Persian Gulf, wedged between Iran to the north and the United Arab Emirates and Oman to the south, is much more than a simple sea passage.

Gold trades near $3,400 on geopolitical fears
Gold maintains its bullish bias on Monday, trading at shouting distance from the key $3,400 mark per troy ounce on the back of increasing geopolitical tensions after Iran announced a missile attack to the US military base in the UAE.

AI Tokens Price Prediction: Story, Virtuals Protocol rebound following sell-off after US strikes on Iran
Geopolitical tensions in the Middle East caused a liquidation havoc of over $1 billion in the cryptocurrency market over the weekend, following US President Donald Trump’s direct involvement in the conflict between Israel and Iran.

GBP/USD climbs to daily highs around 1.3480
After bottoming out in multi-week lows near 1.3370, GBP/USD now picks up pace and gains around a cent to hit new daily peaks around 1.3480 in response to fresh selling pressure hitting the Greenback. The knee-jerk in the US Dollar comes despite steady fears on the Iran-Israel-US front and firm results from preliminary US PMIs for the month of June. On the UK docket, all the attention remains on upcoming flash Manufacturing and Services PMIs.

The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.