In the News: CNN Money

China should allow its currency to rise to fight inflation, portfolio manager Axel Merk to CNN Money

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'If there is one thing China is showing, it is that it does not want to do anything radical. [China] wants to take slow, gradual steps to fight inflation,' said Axel Merk, president of Merk Funds, a Palo Alto, Calif.-based money manager specializing in currency investments.
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Merk agreed that more rate hikes are in the cards. But in the case of China, he said rate hikes are not enough. Fortunately, there is another solution -- letting its currency rise even more than it already has..."