I get the sense from other threads that some folks still feel this idea is an exploit, which shocks me. Since I don't want this practice to appear on the GotM banned list, I'll make a more expanded argument on why it cannot be considered an exploit (yes, that's 'cannot', not 'should not')!
[1] The most important point of all. To quote Leonard Nimoy (was Morgan Freeman unavailable?): 'Everything is worth what its purchaser will pay for it'. If Asoka is willing to pay 20 GPT for my bananas, I CANNOT have swindled him. He WANTS to pay me 20 GPT, so I would be an idiot to accept less. If he had 20 GPT on his own, would you charge him less for your bananas? Of course not. This point cannot be stressed enough and I will refer back to it often. If Asoka is happy to pay me 20 GPT, then the deal is FAIR by definition as both sides walk away satisfied.
[1a] I cannot get the best deals except from AIs that I have good relations with. Therefore I must have been treating them well over the course of the game (or, well compared to the others). I bring this up to further weaken trying to characterize the de-gifted trade as 'unfair'. I have expended effort to get decent relations and now I am just getting my payoff. Refer to [1].
[2] So, maybe I had to gift Asoka to get him up to 20 GPT. But, as we all know, the AI is incapable of consistently having enough GPT on hand to make trades that the human players will find acceptable. And what is a reasonable trade, anyway? I think we can probably all agree on amounts we consider a rip-off, but 'fair' amounts are totally arbitrary. We can waste time discussing what is a truly fair deal. And we can waste time coming up with brackets to what are fair price ranges, like saying military resources are worth more than happiness resources, which are worth more than health. Or vice versa, or any other scheme you want. However, Asoka has already decided that 20 GPT is a fair price: refer to [1]. So who am I to question my trade partner's judgement? And in all honesty, there is no real way to fix this. If Asoka needs three resources that he is willing to pay 20 GPT each for, is he supposed to keep 60 GPT on hand at all times in the vain hope that one or more players will give him what he wants? Of course not. We use the gifting to work around an inherent flaw in the trade model. If anything, I would go with the OP's opinion that the trade model should be changed. But once I got the hang of things, I like this current setup a lot. Anything different is as likely to be considered a worse system than a better one. I think the team at Firaxis has better things to do than revamping the whole trade model for a patch. Remember, I did not gift the AI to cheat him [1]. I gifted to help him have an amount he WANTED to pay in the first place and never would have otherwise (and under the circumstances, it is not reasonable to force him to).
[3] Now, when I cancel my gifts, the AI should be 'smart' enough to see that 20 GPT for my bananas is now a 'bad' deal. Okay, now we've reached an argument that appears reasonable on the surface. But scratch the surface and you'll find nothing there as this is based on a faulty premise. I think the premise that the deal is suddenly 'bad' stems from two ideas: one, that I ripped off the AI by having it pay 20 GPT for my bananas in the first place. Refer to [1] for this. Two, that since the AI is now likely running a deficit, I've 'crippled' it and it should be taking steps to get back to a positive cash flow. Well, so what? As we can see from looking at the diplomacy screen, the AI is frequently running under a deficit by itself and manages to crank it its spaceship out just fine all the same. It is fully capable of managing life under a deficit. The fact that this particular deficit was caused by me should be irrelevant. I am the player. It is my job to cause things to happen. So I influenced the AI to be in a deficit for a while. This is no more an exploit than tricking an AI into war to slow down its tech research or Wonder building. You are taking a step to help you win the game. That is what you are supposed to do. You have set back the AI's progress by getting it into a war, you have set back the AI's progress by stealing its Workers, you have set back its progress by causing a deficit. It is all part and parcel of mastering all facets of the game.
And I find the harmful effects of canceling the gifts highly debatable. I've had deals where after I cancel the gifts, the AI player was back up to a positive GPT the next turn. So clearly in this case no harm was done. Now put yourself in poor, victimized Asoka's shoes for a second. I'm running a positive cash flow and then suddenly I go negative. I have an advisor tugging at my sleeve telling me, 'Hey, we're paying 20 GPT for bananas! If we cancelled this deal, we'd be back in the black. I demand that you cancel this deal immediately!' But there was a reason I wanted those bananas in the first place. Let's say hypothetically that the bananas were giving me +1 happiness (I should have picked a happiness resource from the start, but we've got bananas. Work with me). Am I willing to have every city in my empire generate an extra unhappiness just to avoid a deficit for some period of time? Who is to say. And what if I decide that I can deal with the extra unhappiness. Again, who is to say that my partner will be willing to trade the the bananas once more in the future? The deal may be impossible to renew with any partner. The same advisor could also be tugging at my sleeve saying, 'Hey, we negotiated this banana deal when we were best buds with this guy/gal, but things have cooled a lot since then. We're only willing to pay 10 GPT for bananas now. Cancel this deal immediately!' Just as with the previous logic, I cannot assume that I can successfully renegogtiate a banana deal at what I consider a better price.
Malekithe brings up a case that looks like a genuine example of economic warfare. But I think this only reinforces my point. Arguing over the 'badness' of a single de-gifted deal is debatable. If I've made 3, 5, or 10 deals with the same player, the deleterious effects of canceling the deals are sure to be huge. I may be able to handle canceling one deal that provided happiness. Can I cancel three? Can I cancel the horse deal that is giving me Conquistadors? Can I cancel the aluminum deal that is giving me a spaceship? Can I cancel the coal deal that powers all my Coal Plants? Who are we to tell Isabella how to manage her empire. We cannot call all de-gifted deals 'bad' because this is highly subjective. And I don't buy the logic that if one or two out of my deals MIGHT be genuinely bad, I should not make ANY deals that are sure to leave the AI in a deficit out of some distorted sense of fair play. I can assure you that your AI opponents are not burdened with such scruples. And what if I only make deals when the AI has positive GPT on its own, and never gift it? Are my deals now bad because it happened to run into a deficit by itself? This sword cuts both ways. If we force the AI to prune its deals when it hits the red, it is going to cancel trades regardless of how they were derived. No thanks.
[4] Some folks (I'd call them total wackos, but I'll be charitable) will argue this 'has' to be an exploit since a crafty player will now have X more GPT than they normally would at some stage of the game, so it is now 'unbalanced'. Well, who are you to say how much money a player is 'supposed' to be earning? This same player might have gotten the same amount by using an Organized leader. Or Financial. Or built more cottages. Or optimized Palace/Forbidden Palace placement. Or did a better job optimizing Wall Street. Or got more use from Great Merchants. Or any combination. They picked trading. Big deal. It's all part of playing the game: you look for any way you can to increase your assets. And as Zombie69 pointed out, here's a great way to help you out at higher levels of play. I'd think that the peaceful types would be pleased since they have a new way to try and get an advantage that doesn't call for constant warmongering.
[5] Of course, there will be some of you that read this and think, 'that all sounds reasonable, but it still feels like an exploit. Well, to those folks I say, refer to point [1].
Just my 2 cents. Or if I gift you first, my 20 cents.