Steps Taken By President Obama and President Xi to Facilitate Renminbi Trading and Clearing in the United States

Originally posted on mikebloomberg.com 

I want to congratulate President Obama and President Xi for a number of economic steps, but in particular advancing a mechanism to trade the Chinese currency in the United States. Doing this will be a very powerful move towards improving bi-lateral relations, promoting trade between our countries, improving the competitiveness of U.S. companies, and strengthening America's financial sector. There's still a lot more to do, but this is a great first step together.