Yet there is no meat-export industry and little interest among herders in selling their animals.
In the third quarter of 2009, the economy began to recover, in large part due to export growth, low interest rates, and an expansionary fiscal policy, and growth was 3.6% in 2011.
Worries about export earnings, given Argentina's high debt-to-export ratio, increase the interest-rate spread the country pays over United States interest rates, which have themselves risen this year.
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Rather, low interest rates, an export boom and a business environment in which managers are scarcely accountable to shareholders may have generated too much of the stuff.
Export growth may weaken, in part because higher interest rates have pushed up the real, the currency.
What happens to petrodollars that end up in banks' coffers is of particular interest to emerging economies that do not export oil.
Lord Inglewood, of the Reviewing Committee on the Export of Works of Art and Objects of Cultural Interest (RCEWA), called it "a rare survivor".
Elevated inflation also affects export competitiveness and limits the extent to which the central bank can cut interest rates to help stimulate the economy, Moody's said.
The mystery is that rapid export growth has not translated into higher domestic-sector investment, especially as real interest rates in the region have been low or even negative for much of the past three years.
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With a heavily export-led development model, the feeling was that it was in China's interest to prop up the dollar system.
Union leaders attacked the interest rate rise, warning that firms will find it more difficult to expand and export.
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