We may be playing out a new chapter of Guns, Germs, and Steel, where the germs source from East Asia instead of eastern Europe and the Middle East. The death toll may be a pale comparison to the % of lives lost among First Nations people during the colonial era, but we aren't fighting many territory wars these days. It's more proxy wars now, and economic wars.
Over the course of say 3 epidemics in as many decades, the differentials in economic harm could compound substantially.