There may be a valid concern about offshoring but you have to remember that competitive tendering applies throuhout the EU in all sectors. The only exemption permitted is for strategic concerns ie defence only.
Having seen attempted hijacking of PPE by Germany and France even contracts within the EU are not honoured.
It is likely this virus will be a wake up call for many sectors of industry to repatriate. However there will be a cost escalation involved. Companies do not offshore for any other reason than to make money. There are many examples where companies have availed themselves of government grants to establish. Once the mandatory time period has elapsed to ensure qualification they have upped sticks, with an EU grant, and shot off to eastern Europe, leaving devastated towns behind them. If China is made a pariah(as seems likely) there will be many supply chains suffering major disruption. It is going to be untidy while it sorts itself out. Just as well we did not offshore spitfire manufacturing to Germany all those years ago.
Much of modern manufacturing relies on rare earths, even if only for control cicuitry. Electric cars, mobile phones, computer memory, DVDs, rechargeable batteries, catalytic converters, magnets, fluorescent lighting and much more......
Here's a look at the countries that mined the most rare earths in 2018, as per the latest data from US Geological Survey.

    China. Mine production: 120,000 MT. ...
    Australia. Mine production: 20,000 MT. ...
    United States. Mine production: 15,000 MT. ...
    Myanmar. Mine production: 5,000 MT.
If China wants to play hardball...Oh Dear!
Might be time to go grovelling among the ice and snow in Greenland.
The Kvanefjeld project has JORC 2012-compliant resources of one billion tonnes.