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#Argentina's closed economy (exports = 13% of GDP, compared to 21% on average in #LatinAmerica and 28% in #Chile) is a double-edged sword. It is relatively insulated from the "trade war," but its underperforming export sector limits the upside from the steep peso devaluation.
Indeed, though the commodities "supercycle" sparked export-led growth in the initial phase of the Kirchner era, Duhalde's earlier devaluation (75% in 1H2002) had done little to restore economic growth.
