And that's with medical treatment. People aren't factoring that aspect in. Without it I suspect it would be a lot higher.
The inherent problem with using a raw percentage though is that people struggle to understand the numbers. 3-4% roughly translates to 1 in every 29 people or to use a couple of population figures with London alone you'd be looking at around 315K dead (9 million populace) and the UK as a whole would be around 2.4 million (62.5 million).
The only reason China has been able to keep a lid on things is down to what amounts to a state of martial law. I just don't think many other countries, especially in Europe of Africa are remotely capable of keeping a handle on this.
I was supposed to be meeting up with some friends for a shindig in London next month but given the news about Italy etc, I've noped out of that because I fully expect London will become compromised within the month and albeit I dare say I'd probably be fine I'd rather not become a carrier and impact other peoples lives. I don't need that shit on my conscience.
You CAN make the case either way, so the truth and actuality is probably somewhere in the middle. Will all 9 million in London get it? No, probably not. So the CFR would only be a % of the % that actually get it in London.
*IF* we're taking China at it's word, and only 64,786 out of the 58,500,000 people in Hubei Province came down with the disease, that's only a 0.01% chance of even catching it, and 3% CFR makes catching it AND dying from it a MINUSCULE chance in the grand scheme of things. BUT, this is assuming the numbers are correct, and it doesn't really factor in outbreak equations, where perhaps 1 part of town (YOUR PART OF TOWN!) is hardest hit, while other areas might have no one sick.
Personally I'm still at the twiddling my thumbs stage of panic. I'm not super old, I don't have preexisting conditions, and don't live or work in a place with a high traffic volume of people... but I absolutely keeping an eye on things to see how this plays out.