Italy has 24,747 reported cases and 60 million people. That's 0.04% of Italy's population. If we conservatively(?) assume that there are x10 actual patients,

Italy has 24,747 reported cases and 60 million people. That's 0.04% of Italy's population. If we conservatively(?) assume that there are x10 actual patients, then it's still 0.4%. If, without intervention, 40% of all people may contact coronavirus, then each country is going to be hit x100 worse than where Italy stands now. I doubt there would be a "global economy" to speak of after that. Flattening the curve is our only hope.