If free trade is so bad, why not punish the Chinese by declaring free trade with them?
your absurd premise is A has nothing worthwhile to offer but B has to be forced not to exchange sth for nothing @cthulhupotamus
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I agree it's unlikely A has nothing to offer, but it's the limiting case for the claim balance of trade doesn't matter
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if balance of trade didn't matter, then this case would work. It doesn't. Therefore balance of trade matters.
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if A *does* have something to offer, then the exchange rates will adjust so that the long term balance of trade is 0
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related: "OMG! The Chinese hold 90% of NZ's gvt debt!" Fine, but it's repaid in NZ$, which can only be spent in NZ.
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