If China did allow this virus to escape, and covered it up shouldn’t they be held liable for trillions in economic damage, as well as compensation for victims around the world?

Why should china be held liable when it was the labs fails? Or even more specific someone in the lab? Would the USA be held liable when some lab fails? Is USA or even the company itself held liable for tech-companies fails on security or protecting privacy?

I doubt there is some legal paragraph which would work here, even in International Law.

Evidence points to China government trying to cover up details.

https://www.axios.com/timeline-the-early-days-of-chinas-coro...

And smartly so. Why would they not do it if everything that would happen is the kind of discussion like OP started.

"Shouldn't they be held liable?"

There's a lot of accidents that happened in the West, specifically the US. Some known, some not.

The West just got lucky but would never admit it either.

You forgot about another country, which was not so lucky before, and which had an incident in their 4 level biolab just before the start of epidemic.

So that is more likely than a level 4 biolab that happened to be IN Wuhan and was being warned about by US State Department officials years before this happened?

https://www.politico.com/news/magazine/2021/03/08/josh-rogin...

See investigation here (in Russian): https://www.youtube.com/watch?v=R4Ny_TtcYc8 . At 3:00 I see photo of typical Covid-19 lungs and description of typical Covid-19 symptoms at November 2019.

Yep. I cannot calculate exact numbers, but a similar incident happened already in the past: a blast at the disinfection site created an aerosol with virus particles, which caused infection.

Distance doesn't matter so much in today's world, when cities are connected by planes.