MORE and more people are buying into the truth that lies in the adage: Your health, your wealth. Not only is one’s state of mind richer when healthier, but the productive potential when the effect is cumulative is far more telling on a nation’s gross domestic product.

A healthy nation is, indeed, a wealthy nation. The novel coronavirus (COVID-19) has asked us to learn this lesson in reverse.

We sometimes take the expression for granted, until a virus like COVID-19 strikes a nation or the world. While in the expression is the metaphoric understanding that one of our greatest fortunes is health, in effect, priceless, there is much truth to be had from a literal understanding of the expression.

Like a man who spends an arm and a leg in a bid to treat a sudden and mortal illness, a wealthy nation can be brought to the ground in the face of a virus. And, interestingly, when a nation’s health system is struck down, its true defences are gone and the first things to suffer are material things.

China to the world

If a nation the size and power of China is being brought to its knees by a virus, our tiny nation, if so hit, won’t fare the same but far worse despite any readiness before a virus. The recent virus scare at the University Hospital of the West Indies was just a glimpse into the possible frenzy that could overtake us.

One can only begin to try to imagine the depth of the psychological scarring and mental sadness and distress on Wuhan, and China at large. But its spread to 32 countries is what has brought to the fore how interconnected the world is, despite barriers and differences in culture. Clearly, some visitors and tourists to the great nation, as well as some Chinese nationals travelling to other places, would have been responsible for spreading the outer bands of the virus. Much like the 1918 flu pandemic, COVID-19 spreads easily.

A paper from London’s National Institute for Medical Research says, “In some ways, conditions prevail as they did in 1918: There is a huge volume of international travel due to the development of transport; there are a number of war zones with their inherent problems of malnutrition and poor hygiene; the world population has grown to [eight] billion and a greater proportion of this population is living in urban situations many of which have decaying infrastructures in terms of waste disposal.”

Given, too, the incubation period of 14 days, the carriers of this novel virus would likely infect others even before presenting with the signs and symptoms accompanying the virus. Of greater note is how the declining health in a nation causes a decline in wealth of that nation and others.

One nation’s health affects another’s wealth

Consumer confidence is trending to an all-time low in countries with people infected by the virus. The travel industry is hardest hit, with the International Air Transport Association forecasting $30 billion in lost revenue. Many countries have stopped operations to China. International companies with operations in China are bracing for a massive dip in sales, as many of their branches are closed. Car sales in China have reportedly plummeted by 92 per cent.

China, with the sheer size of its population, accounts for a large share of the global volume of other companies such as Coca-Cola, for which China makes up 10 per cent of global sales. Imagine, too, countries dependent on China for raw material and imports, and the delicate situation that this presents, since some of these countries may not, given their communist or socialist status, be able to find substitutes from which to get imports. Major, once-thought solid stocks on Wall Street are falling drastically.

In the face of COVID-19, when these great nations sneeze, smaller nations will catch a cold. So, though not infected, smaller nations, like Jamaica, will be affected in terms of investment flows and trade. Consider, too, many students travel to China for an education. Who will now want to take up a scholarship in China even if the virus is contained or brought into remission?

China’s health is bound to affect the world’s wealth and well-being. Consider these facts: The World Bank has China’sgross domestic product (GDP) growing from US$150 billion in 1978 to US$12.24 trillion by 2017, with China’s GDP in 2018 being 90 trillion Yuan (US$13.5 trillion). As of 2010, China has been the world’s second-largest economy by nominal GDP (GDP at the current market price), and since 2014, is ranked the largest economy in the world by purchasing power parity. It is the world’s largest exporter and second-largest importer of goods, and since 2019 boasts the highest number of rich people in the world, along with the largest standing army. This is a superpower by any standard of measurement, with tentacles of investment that spread deeper into many nations, including ours.

Your health, your wealth

At the heart of a nation’s wealth is its health, so fragile and tied to the world in web-like interconnectedness. Each nation, with no reports of COVID-19, should still have in place measures to prevent the virus entering its borders. John M Barry, author of the book, The Great Influenza, states: “A terrorist with a nuclear weapon is every national politician’s nightmare. A new influenza pandemic should be.”

Since each nation is made up of its people, I would add that while a national and coordinated response is important, we individually also must take into account protective measures that demonstrate we value life, health, and our wealth.

Warrick Lattibeaudiere (PhD), a minister of religion for the past 22 years, lectures full-time in the School of Humanities and Social Sciences at the University of Technology, Jamaica.