This is self-evident, both due to first-order and second-order effects. How the author manages to stand it on its head is amazing. It's worth noting that approaching, or exceeding, the capacity of the medical system (or any other) drives the costs sky high by and of itself - not to mention other, unrelated cases that also need treatment. With a few weeks worth of disruption to healthcare, even mild cases of other illnesses can spiral out of control and become costly (or even deadly) on their own.

I wouldn't read too much into a country having a muted or slow response to the pandemic; it's the expected outcome of political and economical systems differing across the globe. There is always a slow country to act, and its citizens might feel entitled to the kind of far-fetched speculation the author posted.