China and the Euro are dependent on each other, says Saxo Bank Chief Economist Steen Jakobsen

China and the Euro are dependent on each other, says Saxo Bank Chief Economist Steen Jakobsen. China and the Euro, both dependent on each other far more we might think. Europe, China's largest marketplace is suffering from low inflation, while growth slows, despite April's import and export figures looking better. Is China actually exporting deflation? China created a capacity that's too big for the market, says Saxo Bank's Chief Economist Steen Jakobsen, who argues that both the Eurozone and China are at the centre of a slowing world economy which will see stagnation for the immediate future and ECB action, or lack of it, can't change the status quo. Jakobsen also disagrees with the ECB on the causes of European deflation, arguing that they are caused by structural issues rather than a strong currency. Read more: (VIEW LINK)