You're right, this is a media beat up.
But the reason for the beat up is fear.
And the reason for the fear is a psychological reaction to a build up of market forces whose full effects have yet to be fully realised.
People are aware of this, at a mostly sub-conscious level.
Our responses are borne out in the markets, in this SARS scare, and in war.
Rallying against the beat up, as described, is pointless.
SARS and the beat up of its effects, though not yet fully realised or understood, is a consequence of the psychology of fear, not a generator of fear.
These things are well described in Robert Prechter's books on market analysis, specifically, 'Tidal Wave'.
Other exceptionally good reading, for a glimpse of the way the world is reacting to terrorism for instance, can be found in Philip Bobbit's epic tome, 'Achilles Shield.'