I am shocked to the core, really I am. But I love such shocks.
Harper thumping his nose at the USA and signing a renminbi trade agreement with China which puts the US $ in the doghouse?!!!! Wonder of wonders from the USA lover.
USA needs to be told that we are fed up with the Keystone pipeline carrot dangling they have us on now for almost half a decade..... and what better way than admitting that China's currency is now King. The US $ is on its death bed. Long live the renminbi.
...........Authorized by China's central bank, the deal will allow direct business between the Canadian dollar and the Chinese yuan, cutting out the middle man — in most cases, the U.S. dollar.
Canadian exporters forced to use the American currency to do business in China are faced with higher currency exchange costs and longer waits to close deals.
"It's something the prime minister has been talking about. He wants Canadian companies, particularly small- and medium-sized businesses, doing more and more work in China, selling goods and services there," said CBC's Catherine Cullen, reporting from Beijing............
.........It’s happening. With increasing speed and frequency.
The People’s Bank of China and the Canadian Prime Minister’s office issued a statement on Saturday stating that Canada will establish North America’s first offshore renminbi trading center in Toronto.
China and Canada agreed on a number of measures to increase the use of renminbi in trade, business, and investment. And they further signed a 200-billion renminbi bilateral currency swap agreement.............