Local fields are a class of fields that are complete with respect to a discrete valuation and have finite residue fields. They play a crucial role in number theory and algebraic geometry, especially when examining properties of schemes over different completions, which allows for the study of rational points and the behavior of varieties over various bases. Their structure enables connections to Néron models, the Hasse principle, weak approximation, global class field theory, and p-adic numbers.
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