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Comment by eru | Hacker News Reader

> The US can be seen as a single market, the same applies to China and India. Europe has the schengen area, the EU and the EEA. Africa needs similar initiatives.

Yes, but you don't need much international cooperation to get a single market or visa free travel: individual countries can unilaterally declare free trade and open their borders. (And economic theory is in favour of that, too.)

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You get an imbalance with free incoming trade but taxed/impaired outgoing trade. Perhaps a massively importing country can live with it if importers get better deals as a consequence. But otherwise bilateral arguments would be the long term viable approach.

What imbalance? The benefits of free imports accrue whether you’re a big country or a small one. Hong Kong did very well out of unilateral free trade.

The demerits also accrue, you lose a bargaining chip for your export fees, and it makes it more attractive to rely on imported goods than build a local alternative that could lead to an export business.

Huh? You can't just keep importing, because your trading partners want to be paid.

In the long run, imports and exports have to be balanced.

(Some countries export capital goods, like the US: when Chinese investors buy American startups or real estate that doesn't show up on your usual export statistics, but essentially it's still an American export.)

So if you are importing, you can't help but develop exporting industries.

I'm not quite sure what you mean by bargaining chip? What's there to bargain? You just declare unilateral free trade, and let other people decide on their own policy.

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