Numbers are about to spike everywhere pretty much no matter what anybody does, because better testing and funding has become available.
Quarantining an entire continent, and even worse than this badly doing it, seems to be an astonishing overreaction. The average age of death for coronavirus victims is 83. The mortality rate seems to be as low as 0.6% in South Korea or as high as 5% in Italy. Italy is especially vulnerable because it has the oldest population in Europe which is one of the factors that is leading to the 5% figure from there. It is not an End of Days zombie apocalypse.
I recently watched a speech by a US mayor which essentially said that the panic over Corona is going to do much more damage to people than the actual virus and I tend to agree. Simple quarantining measures mixed with best practices for infection control until we have more information about the virus seems perfectly fine. Blowing up the global economy is complete overkill and is a typical move from an administration whose response to topics are either to ignore them or sledgehammer them.