Monday Morning Briefing: China accuses U.S. of whipping up panic over virus as stocks tumble

Top Stories

The economic and diplomatic costs of China’s coronavirus epidemic mounted with investors knocking $400 billion off the value of stocks and the government accusing the United States of over-reacting to the outbreak and whipping up panic. The number of deaths in China from the newly identified virus had risen to 361 as of Sunday. Meanwhile, Thai doctors have seen success in treating severe cases of the virus with a combination of medications for flu and HIV, with initial results showing vast improvement 48 hours after applying the treatment.

Barring a dramatic development President Donald Trump appears almost certain to be acquitted in his Senate impeachment trial. Here is a look at the road to his impeachment and trial and a factbox on what happens next.

Scores of volunteers from across the United States descended on icy Iowa ahead of Monday’s Democratic caucus with one goal: nominating a candidate who can defeat Donald Trump in November. Walking door-to-door to try to win over campaign-wary Iowans can be lonely and thankless work, but opinion polls showing a tight race and Democrats’ widespread aversion to Trump have kept volunteers coming.

Bernard Ebbers, who built WorldCom into a telecommunications giant and was convicted in one of the largest U.S. accounting scandals, died on Sunday. He was 78. His health had been rapidly deteriorating before a federal judge granted him a compassionate release from prison in December 2019, after he had served a little over 13 years of a 25-year sentence.

The Kansas City Chiefs ended a 50-year Super Bowl drought with a dramatic 31-20 comeback win over the San Francisco 49ers in a breathtaking finish to the NFL’s 100th season that may have also revealed a new star to kickoff the next century. The Chiefs’ young quarterback Patrick Mahomes stepped onto America’s biggest sporting stage and produced an enthralling fourth-quarter rally that even the 49ers grudgingly applauded.

World

British Prime Minister Boris Johnson will set out tougher rules for terror convicts after a man released early from a jail term for Islamist-related terrorism offences injured two people in a stabbing spree in south London. Sudesh Amman, who was jailed in 2018 for “Islamist-related terrorism offences” but released half way through serving his 3-year sentence, was shot dead by police when he began stabbing people on a busy street.

Iran is no longer sharing evidence from the investigation into the Ukraine airliner crash with Ukraine after audio from the investigation was leaked by Ukrainian media, the director in charge of accident investigations at Iran’s Civil Aviation Organization was quoted as saying. The audio file was part of the evidence that was given to Ukrainian experts as part of the joint investigative team’s examination of the crash.

Irish nationalists Sinn Fein surged ahead of the governing Fine Gael party to draw level at the top of an opinion poll a week before an election that looks set to be a major breakthrough for the former political wing of the Irish Republican Army. Setting out her party’s priorities, Sinn Fein leader Mary Lou McDonald said voters had an opportunity to disrupt the political balance that has seen Fianna Fail and Fine Gael swap power since the foundation of the state.

The daughter of Mexican drug lord Joaquin “El Chapo” Guzman married another offspring of a drug empire in a lavish ceremony held in the cathedral of Sinaloa’s state capital Culiacan, in a new display of her family’s prominence. Alejandrina Gisselle Guzman married Edgar Cazares, the nephew of Blanca Margarita Cazares, Mexican newspaper Reforma reported, in the heartland of Mexico’s powerful Sinaloa Cartel.

Business

Utilities stocks trump other havens as virus fears spread

U.S. utilities stocks have outperformed other traditional havens in recent days, as worries over the spreading coronavirus epidemic sparked a rush to safety. Comparatively high yields and expectations of steady earnings during troubled times have made utilities a popular destination for nervous investors.

4 min read

Huawei, Chinese chip makers keep factories humming despite virus outbreak

Some technology firms in China have maintained operations to manufacture parts and products despite government calls in various cities and provinces for companies to halt work to help stop the spread of a new coronavirus. Telecom giant Huawei said it had resumed production of goods including consumer devices and carrier equipment, and operations were running normally.

5 min read

Worldline agrees to buy Ingenico, creating new European payments leader

Payments company Worldline agreed on Monday to buy French peer Ingenico, in a deal which the companies said would create the fourth-biggest payments company in the world and a new European champion in the sector.

3 min read

Top Stories on Reuters TV

Trump and Bloomberg trade insults

Iraqi protesters reject new PM

The quiet start of Brazil’s war on the Amazon

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By Kate Sheppard

 

In the year since Brazil’s President Jair Bolsonaro took office, he's grabbed international headlines for his far-right views and frequent use of social media — both of which have drawn comparisons with U.S. President Donald Trump. So, too, have Bolsonaro's refusal to acknowledge climate science, isolationist foreign policy stance, and push for increased resource development.


HuffPost senior reporter Alex Kaufman traveled to Brazil last year to report on how that toxic mix of "Brazil First" policy has had ruinous results for the country's indigenous community. The Munduruku, an indigenous people deep in the Amazon, are among those who have suffered under Bolsonaro's reign. Must Reads spoke to Alex about the story.


How did you find the Munduruku? What drew you to that part of Brazil?


I had been reading about the Munduruku fight against hydro dams in that part of the Amazon for a few years. Following Bolsonaro’s election, I wondered how they would cope. I got in touch with Greenpeace officials in Brazil who campaigned on behalf of the tribe in the past. Those officials put me in touch with a fixer who had connections in
Pará.


The Munduruku, in my view, represented the story I wanted to tell about the Bolsonaro era. The tribe was large, politically organized and had the backing of a well-funded NGO. It had won previous fights against past governments. And yet even the Munduruku are — at least for now — broadly outmatched against the extremists now in power.


Are the comparisons of Trump and Bolsonaro fair? Do they miss something?


The comparisons are in many ways fair. Both men are figureheads of reactionary, chauvinistic political movements that exploit age-old social divisions on behalf of polluting industries. Both men hold minority rights and environmental protections in low regard. Both men are demagogues who cultivate online fans with bombast, cartoonish self aggrandizement and an open embrace of violence and weapons, particularly guns. Both men were also carried to power by an increasingly powerful Evangelical Christian voting bloc.


But I think the comparisons miss some key points. Brazil and the United States hold very different places in the world order. As such, Bolsonaro is less powerful internationally, and has a harder time throwing his weight around on the world stage. Bolsonaro’s ties to deadly violence are more explicit than Trump’s, including highly suspect connections to the alleged killers who assassinated the left-wing politician and feminist activist Marielle Franco. And Brazil only transitioned from dictatorship in 1985, so it’s a younger democracy with less entrenched social barriers.


Brazil had been seen as a climate leader not so long ago. Where does it fit into global climate policy now?


For years, Brazil’s economy grew at a gangbusters speed while a left-wing government successfully slowed deforestation by increasing enforcement. The Amazon is the world’s largest terrestrial carbon sink, meaning its vast expanses of trees and jungle suck planet-heating gases out of the atmosphere. If the world is going to avert complete climate catastrophe, the Amazon needs to remain as intact as possible. So that crackdown on deforestation made Brazil a climate leader. That started to change a few years ago as economic growth slowed and new administrations reduced environmental enforcement. Under Bolsonaro, that tailspin has rapidly accelerated.


How are Brazil's climate and indigenous rights concerns related?


Indigenous ways of life often depend on keeping forests intact. Certainly that’s the case in Brazil. In the story, I cited a new study published last week in the Proceedings of the National Academy of Sciences that found that 90% of net emissions in the Amazon came from outside protected indigenous lands. That’s a stunning figure, and illustrates the obvious: The climate crisis we face is not the fault of some innate human flaw; it’s the result of a societal development model that classifies nature only as an external obstacle.


Why should American readers care about what's happening in Brazil right now?


Brazil is the second-largest country in our hemisphere. It’s a country where our country has meddled for years; the CIA helped install a military dictatorship that lasted decades. We eat food grown there, listen to music from there and many of us vacation in its scenic tourist spots. And we share our country with hundreds of thousands of Brazilian-Americans. But perhaps the most important reason is that what happens to its forested territory will have lasting effects on all life on this planet.

 

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