World is paying for China's virus mistake. And it is not over yet

We are all paying for China's cover-up of the coronavirus outbreak -- an exorbitant amount of money.

It all comes down to be calculated as the cost of the coronavirus -- estimated to be about $8 trillion.

That's the kind of money that the global economy will lose to the virus. And this is a conservative estimate.

Another estimate pegs the losses at $15 trillion.

But practically speaking, the cost of the coronavirus is much more than economic.

Those who have recovered have damaged organs and continuing symptoms. Their families have been pushed into poverty, and their countries are struggling to cope.

Close to 28 million people have recovered. But that only means they've not died, because the virus ravages your body.

A new study by Oxford has some horrific findings. It says that even after patients have "recovered" -- 60% show lung problems, 29% have kidney problems, and 10% have issues in the liver.

This particular study tracked more than 50 patients who were discharged from hospital.

Months after the first diagnosis, they experienced symptoms like fatigue, breathlessness, depression, and even anxiety.

The symptoms continued for two to three months after they first tested positive. These findings fit a pattern.

Tthe world over, researchers are now talking about the "long Covid", meaning, the long term impact of the coronavirus on patients.

In May, an American news outlet reported serious long term symptoms. It said the virus damages the body in many ways.

It can attack the heart, weakening its muscles and disrupting its critical rhythm. It can reach the kidneys and infect the cells. The virus can affect a body's nervous system, leading to loss of taste and smell. It can cause blood clots and inflammation of blood vessels.

Basically, this virus has the potential to strike any part of the human body -- from the brain to the toes.

If people recover, their families often don't, and the treatment for virus is crippling families with debts.

The cost is high. Most indians cannot afford this treatment.

For the majority of India, average monthly expenditure for one person is less than Rs 5,000.

For a family of five, that's around Rs 25,000.

In a city like Delhi, the lowest priced isolation bed -- in a non-accredited hospital -- would cost Rs 80,000 for ten days.

How can a family that spends barely $340 in a month afford a bed that costs more than $1,000?

This is the reality for 80 per cent of Indian families.

The cost of treatment could financially cripple 80 per cent of India's families.

They have two options -- go for treatment or take loans to pay hospital bills.

The longer the treatment, the bigger the bill, and the heavier the burden of debts.

This story is not unique to India.

Families across the world are struggling to pay -- especially with job losses and reduced earnings.

Countries across the world are counting losses. The International Monetary Fund (IMF) says the total loss in economic output stands at $9 trillion.

More than half of the world's workers are worried about losing their jobs. A survey was published by the world economic forum this month. It says 54 per cent of working adults fear for their jobs in the next 12 months.

As many as 27 countries were part of this survey.

In Russia, 75 per cent respondents are worried about losing their job; in Spain, 73 per cent; in Malaysia, 71.

All these people are paying for China's mistake.

The cost of Covid is very high, because the world is failing to make China pay.

And the pain isn't over. The pandemic isn't over. A second wave, and a second round of lockdowns is not a theory anymore.

It's happening as we speak.