The main strategy that all countries seem to have inherited from China is “flatten the curve”. Delay the virus as much as possible so the healthcare system is not overburdened and the vaccination is developed.
China has enough health-care facilities to accommodate 1% of their population concurrently. But even that would only work had the disease spread evenly through-out the country. Any bigger number suggests that fatality rate will be higher as lesser people are able to receive healthcare.
This number varies for different countries and so the fatality rate is going to differ largely between different countries and regions based on the age of affectees, number of cases, and concurrent healthcare facilities available.
Flattening the curve requires that the governments need to control transmission which means that people should spend more time by their own and avoid meeting other people and especially large gatherings. This affects economic activity.
The real challenge for the governments is that they don’t want to bring the economic activity to standstill. In theory, governments could get done with this as quickly as possible. Let it happen to everyone, let the people die, so they restore order and work as quickly as possible. But this involves loss of human lives. The other option is to lockdown everything, quarter after quarter, and let the economies enter a recession that’s going to take a really long time to recover from.
The governments are trying to find the optimal number in order to flatten the curve just enough to sustain the concurrent healthcare and affect economic activity as little as possible. It is why we’re seeing certain world leaders treating this particular disease as “common flu”.