All understood and expected.
But wait for the figures for everyone else. A US economy shedding 20m+ jobs in a month is a plane on fire. If China loses 5% in the first quarter and then starts recovering and the US 30% over the second and third quarters before it starts recovering, China becomes the big economy.
The point is our economies are decimated, and unlike China, our contagion curves are designed to go on for a while. China has nearly got rid of the virus and appears to be back up and running.
Who ends up winning the economic race? The country willing to do the heaviest isolation hardship upfront.
There is a different factor in play: nations may decide that they need to repatriate manufacturing in many industries, because it turns out a country is very vulnerable to a highly infectious pandemic. So maybe the use of domestic manufacturing plants employing robots will increase. That would damage China. But they are ahead of us right now. Which is worrying.
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