Reflation is prolonging the crisis - Saxo Bank warns of a 'rollercoaster ride' in the year ahead. Saxo Bank, the online trading and investment specialist, in its yearly Financial Outlook, believes 2010 will be a year of reflation, and that the positive trends from the latter half of 2009 will continue well into 2010. However, 'structural headwinds' lie ahead of us that could turn 2010 into a 'rollercoaster ride'. One of the most influential potential triggers for a global market turmoil in 2010 will be a sharp decline in economic activity in China, when the so-called investment-driven export model runs into a "brick wall" of fading Western demand. Chinese exports are down almost 20% over the past year, and the eyes of the world are looking at China in the same way as they did on Japan in 1988.