In one of my favourite films, Trading Places, the anti-heroes Randolph and Mortimer Duke try to obtain the crop report in advance of its release so they can corner the market in frozen orange juice. Like their Chinese counterparts nearly 30 years later no good became of them either. Insider dealing laws prevent those who have information in advance of the market, or public, from acting upon it.
And quite rightly so.
The news from China though can be understood at a number of levels. First it confirms that economic news on the Chinese economy is sufficient to move to asset prices in a substantive and predictable manner...
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Jagjit Chadha is a Professor of Economics at the University of Kent