What if there is another Covid breakout, and it cripples our economy? What if Mexico raises their minimum wage to match the USA? We can't live by what if fears, over things that may never happen. But I suspect we are much more prepared for such things than most people realize.What happens if we end up going to war with China and are cutoff from that foreign manufacturing? We'd be screwed. (pun intended) It would take us much longer to ramp up manufacturing to support our military and local economy in a protracted war. China already has the tool and die, as well as the intellect. It's hard enough just to get US sourced raw materials like steel and aluminum.
Do you trust those foreign car companies to convert their factories into wartime production of planes, tanks, etc... like Ford, GM, and others did in WWII? I don't.
The company I worked for had an extensive catastrophe recover plan. I imagine most all major manufacturing companies do. The plan wasn't just empty words on paper, but rather real plans that had been carefully researched, and in some cases, validated. All the big automotive manufacturers wanted to know how we would protect their production in such cases.
China may have tools and dies for many products we buy, an it may take months typically to build replacements. But it is amazing what can be done when needed. I used to think that the American automotive industry would be severely crippled if a critical supplier had a catastrophic plant failure, such as a fire or explosion. This assumption is totally off base. The ability of American industry to recover, or adapt, is amazing. If we had to, we can make our own screws. We just don't because, well, why, when someone else will do it for $.97/hr?