Other countries could have been affected as well, because, for instance, China's demand for goods and services has fallen – including that of Chinese tourists – or because global value chains have been disrupted. Although the Chinese economy is expected to quickly return to normal once the epidemic has died down, the spread of the new virus to other countries is an additional danger.
I don´t think that the price stability objective has failed. If a conflict has emerged between financial stability and some conceptions of inflation targeting, this cannot be held against ECB’s monetary policy strategy, which has always taken a medium-term view and takes monetary analysis and credit expansion explicitly into account when setting monetary policy. This is visible even today.