The firm that promises to make employing people easier. Hell explain how. Today we want to know, what are your questions about brexit . Well be answering your questions on this fridays edition of Business Live. Let us know. Just use the hashtag bbcbizlive. Welcome to the programme. We start of course with brexit as the massive task now begins of agreeing the terms of britains departure from the european union. Theres a huge amount at stake for businesses here in the uk and across the remaining 27 eu countries in the form of a trading relationship Worth Hundreds of billions of dollars a year. A failure to strike a trade deal would be damaging to all sides. But who really has the upper hand . Lets look at the numbers. In 2015 the uk exported 274 billion worth of goods and services to the eu. Thats 44 of all the uks exports and represents 13 percent of the entire british economy. Lets look at it the other way. The eu exports far more to the uk than vice versa 360 billion worth in the same
global growth with now central banks around the world talking about not only easing off the accelerator but perhaps hitting a break. and that is the change. that is the paradigmbrake. that s the paradigm shift is we ve had a struggle to get growth and even when we ve gotten synchronized growth we ve not had interest rate increases or higher interest rates are not the support for lower interest rates. that s now shifting. it s a subtle shift but it s a synchronous shift. it s not just the u.s. and i think that s an important point to take away, is as we re healing that s the good news and this is a reflection of the underlying strength in the economy but the market is not the economy and the market perhaps got ahead of where reality was given the balancing act between higher interest rates and a stronger economy. and you re listening to diane swan, chief economist at grant thornton. diane, what should one think about when you re saying the markets are not the economy? what should one
is that something that people would view as destabilizing or is it washington noise, mike pence if he were to become president would be a solid republican, continuing similar policies. it is very difficult to predict. and you markets keep going in one direction until they don t. and it is difficult to know what is the trigger that caused a psychological change in how people evaluate what is going on. and while you say psychological change, i want to go to the wall. now off about 4.6%. so what you are seeing are the gyrations in the market. i can t believe i m saying this. i don t believe i used these words, only down 1100 points. we re only down 1150 points. these are the gyrations you are used to seeing on markets. selling and buying, selling and buying. what you worry about is as you get to the final hour, if it just went like this, if you close a market with many more sellers than buyers, using that
this to shake out and we have seen significant movement in this final hour of trading and where we end up i think will tell us something. you just said something i think we need to unpack. you talk aboutal algorithms an programs. the last time we saw a thousand on the dow. it had to do with a flash crash. there is a difference between the way stocks were traded today and when we got into the business. it was hard to have big crashes because you have a floor full of people would were buying and selling and understand what is going on n. this day and age, we have no idea what kind of sentiment is behind a 8,000 did, 1200, 1400 drop. and you could have a a little increment of sentiment change that then feeds upon itself for an hour or two hours, three hours and then things correct themselves if you don t have a fundamental problem.