The Globe and Mail reports in its Wednesday, Nov. 12, edition that Prime Minister Stephen Harper has agreed with China to establish Canada as the first trading hub in the Americas for the yuan. The Globe's Janet Ecker writes that now Canadian firms will be able to deal directly with Chinese companies in their own currency. Ms. Ecker says this is a significant development and a major win for Canadians, for our nation's financial industry and for Toronto, where the financial sector is headquartered. As China seeks to make its currency more international, it is looking for global partners. Its choice of Canada will now give Canadian companies, including our financial industry, a competitive advantage. The Canadian Chamber of Commerce estimates the benefits of a yuan trading hub will create more than $30-billion in direct trade benefits, support a more competitive financial sector, encourage more investment in Canada, and solidify commercial and diplomatic relations with China. As Canada seeks to broaden its base of trading partners beyond the United States, building the reach and expertise of its financial sector in emerging economies around the world is critical.