This isn't quite true.

Taiwan, Singapore and S. Korea have not 'shut-down' their economy, and they have tamed the problem.

Massive and widespread testing, assertive isolation and tracking of individuals who test positive can work on some level.

Combined with some other things like maybe keeping 'big gatherings' or 'social gatherings down', requiring people to wear masks on trains, busses, airplanes - we may be able to reasonably suppress Corona without a medical discovery.