Why not, we risk going back to the centralized pitfall once again if we don't right now; it won't be easy, but its very clear that the entire World is/will be falling into a deep recession, if not depression. I'd say if local manufacturing was ramped up then at least you could spur on local employment numbers.
Retraining people in this time is perhaps the most opportune as well as as they're confined at Home.
Also, I don't know how close you've been following the manufacturing of respirators or medical PPE in the US, but its like people finally realized 3d printers can be used for more than pointless affections and have been repurposed to be used for medical supplies equipment and tools and have brought out the best in what the 'maker space' could be under the guidance of actual Medical professionals.
There are guys on imgur who are reaching out to front liners to provide them with the equipment they can't get elsewhere at no cost.
Its a do or die situation for those so heavily reliant on them for medical supplies, quite literately, as untold deaths will go unaccounted for because China sent low quality or totally faulty equipment if it was even available to begin with. It will be brushed under the unavoidable cost of a pandemic--that has been made worse because the CCP censored, and disappeared anyone who sought to speak out on the severity of COVID19.
Which should have grave consequences internationally.