Most mornings, one can get a pretty good idea of how the Australian share market will open simply by looking at what happened to US share markets overnight. Similarly, US news has an important influence on the Australian dollar exchange rate and on the price of many of the resources that Australia sells.
There is, therefore, a growing need for the emerging economies to continuously improve on the efficiency of information flow in order to compete internationally and attract foreign capital flows. This can only happen when the players get the right information. I wish to emphasize the important role played by professional business journalists in the development of financial markets.