You mean the Japanese companies will make our ships, planes and tanks as in WW II?
In the unlikely event that we got in another big, protracted war that didn’t involve multiple nuked US cities, the demand for ships, planes and tanks would be met even if the big three were not around. Demand would create supply.
If there is plant needed to cast a turret, for example, it could be mothballed and broken out when needed, and the demands of changing technology would make the stuff we have today obsolete in short order in a “new WWII” even if such an event occurred.
Propping up companies that need to go chapter 11 to get lean again is the same recipe that allowed a panic to become a depression in 1929. Hoover and FDR tried to tax and spend the country out of it, and it didn’t work for ten years, ending only when the war came.
I bought a fedora the other day, because the election of Obama and the segment of the Republican party that favors government bailouts sure seems to indicate we are headed back to ‘29, and I might as well be dressed for it.