Yes, it's almost a large scale outbreak with more than 100 people in China getting infected and a handful of deaths. I don't really know how an outbreak is officially defined but I am almost sure that the word is something that most governments would use only at the last moment. Why? It is because an outbreak or an epidemic would mean close scrutiny of people traveling in and out of the infected area. In extreme cases, an epidemic or outbreak also means a quarantine which would surely have a negative effect on the economy.
What's happening in this world.