Mortality rates in developed nations (S. Korea, Italy) seems to be a bit over 1%.
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Correct. In countries like the United States, with better health care than China, the fatality rate will be lower. If effective therapeutics are found, the rate will be much lower. Studies are being done now with promising drugs.
I can also imagine that in less crowded living conditions in the USA, that the rate of spread might be lower than in crowded Wuhan marketplaces.