00:01
Here we want to provide counter evidence that our imports will bring benefits to our nation.
00:05
Our first would be lower prices.
00:08
Importing wine from france may lower the price of our domestic wine.
00:13
However, this is beneficial for customers who will be able to purchase it at a more affordable price, which will increase our consumer surplus.
00:23
Two, we see that we will have variety.
00:26
Importing this wine will also increase the variety, which can improve our consumer welfare as they will have more options to choose from.
00:35
Then for number three, we have competition.
00:38
The introduction of our french wine can stimulate competition in our market, encouraging local producers to improve their quality and efficiency, leading to an increase in the overall quality of wine.
00:51
Then we have trade relations...