Yeah reading up on pandemics is pretty scary. The good news is we have a better understanding of the causes and prevention. We have the ability to develop vaccines “reasonably quickly”. Australian scientists have already created the virus in the lab and it’s moved to our secure biohazard facility where, cross fingers, a vaccine is on the way.
Should we panic, no, should we be cautious, absolutely.
China has learnt a lot from SARS, it has been quite proactive and open. The real issue is that this is all new. The other corona viruses are not infectious if the person has no symptoms. This one seems to be a bit different. The 14 day exclusions from schools and workplaces will do a lot to reduce the spread.
Not wanting to turn this into a bit of a rant but... the best things you can do to protect yourself are the things you should be doing to stop influenza. WASH YOUR HANDS, seriously, this is one of the world's leading public health measures. Don’t cough or sneeze on people.
In the unlikely event you are exposed to the virus, 14 days away from people is a smart move. If you develop symptoms, see your health provider and tell them about your exposure before you go. They can make arrangements to protect other patients. This is the same for measles, chicken pox and a long list of infectious diseases.
This is a serious situation but we are not at panic stations yet.