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WHEN JIM FLAHERTY, Canada’s minister of finance, visited China in January 2007, his reception was tepid. The visit was overshadowed by human rights debates, and each country’s commitment to invest in the other was questioned. “I was told that the Canadian banks were too hesitant,” says the minister. Fast forward two and a half years and a worldwide banking crisis, and the minister’s welcome in China in August was significantly warmer. Indeed, Canadian exports to China increased 6.8%
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