American hopes for political reform in China faded years ago, and now hopes for economic liberalization are fading too.

The fate of the global economy hangs in the balance as President Donald Trump and Chinese President Xi Jinping prepare to meet for their first face-to-face talks in six years. The two are set to meet late Wednesday night Eastern Time, Thursday morning local time in Busan, South Korea. Trump said the meeting could last three to four hours.

Beijing is fighting to limit the damage from a pattern of price wars and excess capacity across multiple industries.

Every year or so, the country's highest political body, the Central Committee of the Chinese Communist Party, convenes for a week of meetings, also known as a Plenum. What it decides at this one will eventually form the basis of China's next Five Year Plan - the blueprint that the world's second largest economy will follow between 2026 and 2030.

China’s economy expanded at 4.8 percent in the third quarter—the slowest rate in a year—according to data released on Monday by its National Bureau of Statistics (NBS), as ongoing trade tensions with the United States continue to weigh on growth.

Prime Minister Anthony Albanese has thrown his support behind China hosting next year’s APEC summit, declaring it in Australia’s interest to strengthen economic and diplomatic ties with Beijing despite ongoing trade tensions.

Family size around the world is dropping. That choice by couples is triggering a population shift that's sending shock waves through economies.

Lee, who was elected in a snap election in June, has promised to strengthen ties with the United States and ease tensions with North Korea while not antagonising China.