[ummonk]

According to the Chinese papers, something like 15% of cases are serious and need hospitalization. If it does become widespread, it would be a major calamity (though most people would survive and the world would move on once it is over).

As to whether it will become widespread, the jury is still out. China appears to have gotten it under control, but it took drastic measures to do so. The rest of the world has yet to demonstrate an ability and willingness to do the same. There is a decent chance this will spread as widely as the swine flu did, but with more than 20x the case fatality rate, we would be looking at tens of millions of deaths worldwide.