The One Number That Could Reveal A Chinese Coronavirus Cover-Up
The Wuhan coronavirus continues to wreak havoc across the globe. It caused a 600 point sell off in the Dow Jones on Friday, prompted the first U.S. quarantine in a half century and has resulted in various travel bans around the globe. Famously, even tourist “hot spot” Iraq doesn’t want Chinese citizens coming into the country.
In addition, it appears as though the numbers coming out of Hubei province are accelerating, with the area reporting 1,921 new cases and 45 new deaths as of Saturday night.
Yes, I already saw the numbers and put them in a graph!! This is MUCH higher than any previous report from the Province of Hubei, the epicenter of #Wuhan #Coronavirus. Very alarming! Starting to get out of control now! pic.twitter.com/C9bVMWc5f9
— GHoeberX (@ghoeberx) February 1, 2020
While I am not going to comment about various theories regarding the viruses origin that have been circulating the internet, I will say that these reactions to the virus have all been (mostly) to numbers provided to us by the Chinese government.
The skepticism around the Chinese government’s data comes as no surprise to me. I have spent more than a half decade researching U.S. listed China based companies and working daily and directly with Chinese nationals to uncover fraud being perpetuated on American capital markets.
The research of our firm and the story of our firm’s partner, Dan David, was featured in a documentary called The China Hustle that was produced by Academy Award winner Alex Gibney and backed by Mark Cuban’s film company, Magnolia Pictures. While not an expert, I consider myself to have a better understanding of the ethos coming out of the country than most people.
And in my opinion, I believe people should harbor a skeptical opinion of anything that comes out of the Chinese government.
So, what data am I looking at to try and verify or contradict China’s claims? I’m watching the fatality rate outside of China. As of right now, the fatality rate of about 2% (NY Times says “less than 3%”), according to China’s numbers, is often cited as reason not to worry about the virus. Let us first remember that the normal flu has a fatality rate of about 0.4%, which makes the Wuhan coronavirus far more lethal. It also spreads quicker.