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.
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.