The economic fallout from letting the pandemic run wild is a secondary effect. A lot of the economic problems we’re seeing today are a direct result of the failure to contain the pandemic. Long term there will be a huge economic shock from a combination of large numbers of people not being able to fully participate in the workforce and putting a strain on the healthcare system.

Again, we can see the wisdom in the approach that China took given that it’s the only major economy that continues to show growth right now.