China may be fed up with U.S. policies, portfolio manager Axel Merk tells CNN Money
" 'The Chinese have some valid concerns. Deficits in the U.S. do not seem to be contained and that's encouraging a weaker dollar,' said Axel Merk, president of Merk Mutual Funds, a Palo Alto, Calif.-based money manager specializing in currency investments
'China could be fed up with U.S. policies. But it's in nobody's interest for China to say they will dump dollar-based holdings since that would cause disruption to the global markets,' Merk said."