The tight U.S. election race and Barack Obama's defeat of Republican Mitt Romney dominated the news this week, but if you only read the top news stories then you missed some of the most interesting coverage — what the result really means for Canada and the rest of the world.

The U.S. vote also drowned out many of the other headlines in the news, from the leadership changeover in China, to the Prime Minister's mission to India, to the growing fallout of Quebec's corruption scandal.

In case you didn't catch it, here's coverage of five of this week's must-read stories from CBCNews.ca.

U.S. Election

Brian Stewart, world affairs columnistBrian Stewart, world affairs columnist

Anyone who read, watched or listened to a news report this week knows that Barack Obama defeated Mitt Romney in Tuesday's election to win a second term as U.S. president. But the presidential victory was only part of the story.

The election has ramifications for everything from the legalization of gay marriage and marijuana use in some U.S. states, to how a post-election President will deal with Canada and the evolving list of global hotspots over the next four years.

Change of power in China

Patrick Brown, Asia columnistPatrick Brown, Asia columnist

The U.S. wasn't the only global superpower making leadership changes this week — China's 18th National Party Congress started in Beijing. By the time the Congress ends late next week, the country will have a new premier and president who will serve for the next 10 years. It will also announce a new policy agenda that will steer its domestic and foreign policies for the next five years. With China's growing influence over global politics and economics, the ramifications of the changes for Canada and other countries promise to be enormous.

Stephen Harper in India

Terry Milewski, politics columnistTerry Milewski, politics columnist

While the U.S. and China have been deciding who will lead them, Prime Minister Stephen Harper was in India this week attempting to shore up political and trade relations with the fast-growing economic powerhouse. Harper faced tough negotiations over tighter economic ties, as well as tough questions about what he's doing to assuage Indian concerns about Sikh extremism in Canada. He also signed a deal that is aimed at addressing security concerns that have held Canada back from shipping uranium to India.

Quebec corruption scandal

Citizens of Montreal are angered over allegations of corruption surfacing at the Charbonneau commission. Citizens of Montreal are angered over allegations of corruption surfacing at the Charbonneau commission. (CP)

As the corruption scandal plays out in Quebec, the beleaguered mayors of Montreal and Laval both stepped down this week. But the brunt of the public anger is apparently being weathered by the lower-level city employees who people see on the street or in civic offices. Montreal's 28,000 municipal employees issued a public letter this week saying they also feel betrayed by corruption.

New $20 bill

Canada's new $20 bill is made of polymer and harder to counterfeit.Canada's new $20 bill is made of polymer and harder to counterfeit. (Bank of Canada)

Canada's $20 banknote is a favourite of counterfeiters, so this week the Bank of Canada started circulating a new polymer bill that it says will be harder to duplicate. The front of the bill has a new portrait of Queen Elizabeth and the back has an image of the Vimy Memorial in France (which some have called "pornographic"). You should see one of the new twenties soon, as the $20 bill has become the most popular Canadian banknote.

And a bonus for James Bond fans

Daniel Craig, left, and Javier Bardem appear in a scene from Skyfall.Daniel Craig, left, and Javier Bardem appear in a scene from Skyfall. (MGM/Columbia/EON Productions/Sony Pictures)

James Bond is back in the big screen in Skyfall, released in Canada this week. The movie that marks the 50th anniversary of the secret-agent franchise scores five out of five in the CBC review, and Eli Glasner writes, "This is a film that both asks and answers the question 'Why does the world need Bond?'" But while the latest plot gets two thumbs up from the critics, the same can't be said for all the Bond movies made over the past five decades. CBC asked ex-CIA and other spy experts which Bond villians (and their villainous plans) had the best chance of succeeding in the real world.