Yes, the death rates are substantially higher than the flu. Flu is about .1% while coronavirus is 2% and remember that we have flu vaccines and somewhat effecti

Yes, the death rates are substantially higher than the flu. Flu is about .1% while coronavirus is 2% and remember that we have flu vaccines and somewhat effective drugs to combat influenza and nothing (yet proven) comparable for this new disease. High rates of hospitalization and injury. In the case of China, chaos resulting from the panedemic has the potential to undue Xi Jinping's reign, so his cadre has decided to take the hit on the economy and go full war mode to combat it. That being said, it does pose a critical danger and greater mortality rate if healthcare infrastructure is overwhelmed. The drastic lockdowns do help control the spread to a degree that mitigates this possibility and allows for the ramping up of response capacity. The US should be responding with comparable force (and probably will be forced to in the coming weeks), but there's a lot going against taking action at the moment, from poor national coordination, Trump administration cuts and malfeasance, bureaucratic impediments around mass testing, and outsourced supply chains.