should I use "This" or "it" ?
I have sentences as following:
Besides, imported goods have challenged the dominance of domestic manufacturers and intensified competition, thereby lowering product prices. This(It) is beneficial to domestic consumers.
In the second sentence, the word "this" or "it" refer to the fact mentioned in the first sentence.
I am confused which word I should use?
What the difference between "this" and "it" in such a situation?