China can't reimburse the world. You're right. But China is poised for economic hegemony in large parts of the world and has an alarmingly authoritarian government with disregard for human rights. Their handling of COVID ought to be a reason for countries to push back against their attempts at hegemony.
And before anyone accuses me of racism: I am speaking about the Chinese government, not Chinese people, who are the first victims of the government.