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But those fears have been dispelled after the State Council, China's Cabinet, vowed to further reduce market restrictions for foreign companies in the banking, securities and insurance sectors.

But the numbers may be misleading.

By 2019, China has been the largest contributor to world economic growth for 14 years in a row, contributing around 30% of growth in recent years. China will remain a major economic powerhouse for the world in the years to come.

But the current spate of bad news about cruise ships seems not to have dimmed travelers' enthusiasm for boarding them in the future. According to the Los Angeles Times, bookings for cruise trips were up slightly in March compared with the same time last year.

But the number of trips has dropped significantly since Jan 25 due to travel restrictions and quarantine aimed at containing the novel coronavirus outbreak, and has not formed any travel peaks in a traditional sense yet, he said.