Canadian firms that trade with China will save up to $6.2 billion over the next decade due to the new Yuan hub.
Canadian firms that trade with China will save up to $6.2 billion over the next decade due to the new Yuan hub. TD Bank believes the lower costs of being able to trade without using an intermediary currency will also cut risk and will be of particular benefit to smaller companies trying to expand into China. The bank’s report also estimates that exports could be boosted to the tune of $32 billion over a decade by the deal.
