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Jakobsen: China, Japan and an ugly currency war
There's increasing risk we'll soon see a "significant paradigm shift" from China in its attitude to the strength of its currency. So says Saxo Bank's Chief Economist, Steen Jakobsen. He says we're about to see a full-scale currency war, notably between China and Japan, two of the world's greatest exporting countries.
There are a number of important world meetings over the coming few weeks and the Chinese will be "very vocal", says Steen, as it's getting increasingly worried about its loss of growth momentum. The country's determined, he says, to refocus and maintain its export share of total growth.
02:57 minutes
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