I think what you're referring more concretely is the difference between Balance of trade vs. Balance of payments, the latter being the addition of tertiary/fina

I think what you're referring more concretely is the difference between Balance of trade vs. Balance of payments, the latter being the addition of tertiary/financial sector. For an export driven economy like Japan, Germany or China - balance of trade could be bad. How big is the German software & banking industry to offset some of this default in the long haul?