Meanwhile, Brazilian manufacturers trying to export to China face steep non-tariff barriers on manufactured goods, such as obstructive state purchasing agents.
Fast productivity growth in export industries raises average wage costs across the economy, including in non-traded services where productivity is sluggish.
The European Union has attempted to build a compromise - but their proposal has been roundly criticised by those in favour of the ban as a complete non-starter who say it does little more than impose a requirement to publish export quotas.
With a neutral, non-national money as the backbone of financial order, no country had a systematic way to export its overborrowing and inflation to the rest of the world.