Do they not create sentiment and expectations that tend to strengthen rather than reduce the much lamented herd behaviour of the markets? Anyway, the transparency of opinions about supposed facts stands in sharp contrast to the transparency of the facts themselves. The media and the markets produce and process information incessantly. The question is whether it is the relevant information.
The challenges faced by India might be of a slightly different nature, yet it reinforces the points I will make about the economic impact of China on Western economies. How important is China now? China dominates newspaper headlines.