Moving manufacturing facilities back to the U.S. and Europe will not be easy, but if you want truly geographically diversified manufacturing, it will have to be done. This is one of Globalfoundries' selling points--instead of all of their fabs in Hsinchu, GF has one in Dresden, one in NY, etc.
I attended this discussion at DESIGN West and and was amazed at the level of inter-relatedness of all levels of the supply chain. I was especially impressed with the level of humanity that was expressed across the competitive set of players and the willingness to help each other recover. Great coverage of the topic.
We've heard previously about the extraordinary situation of Renesas' competitors pitching in to help the company get its manufacturing back on its feet. What I hadn't heard before the panel discussion was this: Ali Sebt, president and CEO of Renesas Electronics Americas, siad Renesas was delayed even getting in to inspect the damage at its heavily damaged Naka fabs because Renesas didn't have equipment to detect what gases were present inside (and it would have been very dangerous to enter without this info). Thirteen of Renesas' competitors provided the company with their extra gas detectors so that they could get inside.