Trump victory to reverberate through global economy

Donald Trump's victory in the race to become the next US president will, if confirmed, have economic consequences for the rest of the world that are likely to be deep and quite immediate.

As congratulations poured in from world leaders, Trump claimed on Wednesday he had been given a "powerful mandate" to rule.

If he enacts just a fraction of his pledges - from higher trade tariffs to deregulation, more oil drilling and more demands on America's NATO partners - the strain on government finances, inflation, economic growth and interest rates will be felt in every corner of the world.

Trump's Republican Party also secured the Senate and was making gains in the House of Representatives, potentially making it easier for the president to legislate his proposals and push through key appointments.

"Trump's fiscal pledges are seriously troublesome - for the US...