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I read somewhere that Wuhan had approximately 9,000 hospital beds before the outbreak. It was already filling to capacity when the city went into lockdown. This virus will hammer down any medical system regardless of how robust that system is.
Italy and South Korea are both reporting that they are running out of beds. With this outbreak, we need to act fast to impose travel restrictions and limiting gatherings/movements. The virus doesn't care about politics or stock market. Its sole purpose is to infect and spread to new hosts.
We will know the truth of it's properties and spread within the coming weeks. We know China is hiding something as far as how deadly this virus truly is, but we aren't going to get it form them, their need to save face beyond anything else is too strong of an instinct in their culture.