"Wine experts are discovering that California wines of several varieties and vintages are comparable to many of the best French wines. The result is an increased demand, here and abroad, for California wines." With regard to the U.S. balance on current account, this trend will

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The increased demand for California wines abroad will lead to increased exports, which will positively impact the U.S. balance on current account and decrease the deficit. This is because exports are a component of the current account, and an increase in exports will lead to an increase in the surplus or a decrease in the deficit.

"Wine Experts Are Discovering That California Wines of Several Varieties