Canada to establish first Chinese currency hub in North America

"When Stephen Harper was first elected Prime Minister he was adamant that he wouldn’t stop pressing china on human rights but critics say Harper has softened his stance since then and the new currency hub is proof.

Canada and China have signed a reciprocal currency deal that’s expected to dramatically boost exports.

The hub will foster far easier trade between the Canadian dollar and the Chinese yuan, also known as the renminbi. It makes Canada the first country in the Americas to have a deal to trade in the renminbi."