As I recall, the economic damage of the pandemic was ~ "it's worth spending ten billion dollars to make the vaccinations arrive one day sooner": https://www.newsweek.com/operation-warp-speed-what-deal-opin...

(And that was just the cost to the USA, not the world as a whole).

Which does not change the fact that the pandemic was a peacetime crisis where it was possible but not practical to keep most systems running if needed.

Coronavirus wasn't bullseyeing vaccine shipments in the Pacific or taking down air freighters.

EDIT: I mean I don't know why you think this is a catch-22: countries pursue both capabilities, and the UK has a pharmaceutical industry and on shore manufacturing capabilities.

Whereas many industrialized nations are struggling to keep steel making capabilities on shore and running. So why is steel special? Because currently it's the one we're in danger of losing (and much harder to ship globally even if you have allies).