Yes, it's all true. Most things are made in China. Yes, the Global Economy. But, it takes away our independence. We already lack production facilities for many things, the factories having gone overseas. We are rapidly losing the skill base, people who could produce the necessary goods if factories were started. Eventually, we will be under the control of overseas nations whose interests may or may not be parallel to ours. Other countries could blackmail us by withholding seemingly ordinary goods as the Arabs now can with oil.
At some point, I'm sure military items could be affected, as well. Sure, DOD looks at the takeover of American defense production. But, what about some of the unnoticed suppliers of small parts?
BTW, I forgot what year, had to be 10+ years ago, when there was the explosion in the USS Iowa's forward turret? The turret was destroyed, but the real kicker was the small, almost ignored comment in the report, that the turret could not be repaired or replaced because "there was no yard left in the US which could do the work."