It will be a demand shock, followed by a supply shock and it is not limited to China.
It’s worldwide. And the trajectory is not good.
Check on what proportion of the US economy is dependent upon trade. That’s the principal at risk, not just China trade.
I did that already but I will do it again. Pay attention this time OK? Total trade is $4T, $2T imports and 1.4T exports. Total US GDP $22T.
Imports are 2/22 = 9% of GDP.
Exports ( not yet threatened by Corona Scare ) are 1.4/22 = 6% of GDP.
So AT MOST 9% of GDP could be affected. This COULD be an annoying disruption but not a crises.