A new report from The Heritage Foundation’s Nonpartisan Commission on China and COVID-19, titled “Holding China Accountable for Its Role in the Most Catastrophic Pandemic of Our Time: COVID-19,” reveals the devastating economic impact on the American economy due to the COVID-19 pandemic, which the report claims was exacerbated by China’s actions.
The report meticulously details “The Seven Weeks that Changed the World,” highlighting a critical period during which Chinese officials, the report argues, failed to honor international commitments to contain the virus, thereby allowing a domestic epidemic to become a global pandemic.
According to the report, the COVID-19 pandemic has cost the U.S. economy over $18 trillion. John Ratcliffe, former member of Congress and Chairman of the Nonpartisan Commission on China and COVID-19, wrote the foreword, emphasizing the report’s objective to “review the facts and circumstances” surrounding the pandemic.
The report also provides specific recommendations for U.S. officials on how to hold China accountable. While acknowledging that other governments, institutions, and individuals may have contributed to the pandemic, the report finds China uniquely culpable due to its lack of honesty, transparency, and accountability, which it identifies as the primary cause of the pandemic’s global spread.
The Commission’s findings suggest that the COVID-19 pandemic likely originated from a research-related incident at the Wuhan Institute of Virology (WIV), a facility known for its coronavirus research, rather than from wild animals sold at a market in Wuhan. This conclusion contradicts the narrative propagated by Chinese authorities.
The economic impact detailed in the report includes:
- Excess deaths in the U.S. costing $8.6 trillion
- Lost income amounting to more than $1.8 trillion
- Chronic health conditions, such as “long COVID,” costing $6 trillion
- Mental health impacts adding another $1 trillion in losses
- Negative effects on education costing approximately $435 billion
Overall, the report estimates the total economic loss at over $18 trillion, which is about 13% of the U.S. economy’s total GDP.
Globally, the report notes, the COVID-19 pandemic resulted in 28 million deaths, devastated economies, and impoverished vulnerable populations, while also creating a mental health crisis and disrupting a generation’s educational experience. In the United States alone, the pandemic killed over a million people and caused an estimated $18 trillion in economic losses. Millions of individuals continue to suffer from long COVID.
The report underscores the necessity of understanding the origins and spread of the virus. It documents how China’s actions in the early stages of the outbreak were characterized by a lack of responsibility and transparency. According to the report, the Chinese government covered up critical information about COVID-19, destroyed evidence, silenced scientists, jailed journalists, and obstructed international investigations, all while failing to meet their obligations under an international agreement to notify the World Health Organization accurately and promptly about the public health emergency.