China is trying to tackle tens of billions of dollars of debt currently saddling local governments to prevent it from slowing the country's overall growth.

Former Australian ambassador to the United States Arthur Sinodinos has delved into how US President-elect Donald Trump’s tariffs will affect the world.

Donald Trump is preparing to implement the most extensive tariffs in a century, and some of these tariffs are intended to serve as bargaining chips in trade negotiations, writes "The Washington Post." The newspaper adds that the introduction of a universal basic tariff is unlikely.