Looking at each demand component, exports, particularly of cars and car parts, declined as a result of supply chain disruptions. However, overseas demand in general is expected to continue to expand. Furthermore, exporters, particularly automobile makers, are working hard to resume shipments as quickly as possible.
Yet having no known or understood process for dealing with default can, as has been seen in Asia, lead to inequitable burden sharing, high official cost and potential future moral hazard. A related basic dilemma involves the timing of a suspension of payments.