Domestic Politics
Former Interpol President Meng Hongwei, who disappeared while on a visit to China in 2018, was sentenced to more than 13 years in prison for bribery after being held in custody for the past 24 months. Meng, who was also the Vice-Minister of Public Security in China, pleaded guilty to accepting US$2.1 million in bribes to use his status to “seek improper benefit" and promised to not appeal the decision. [Asia Times]
International Relations
South Korea dispatched a destroyer to the Strait of Hormuz to patrol the area, joining an existing naval unit deployed in the region for anti-piracy operations. In doing so, Seoul joins Japan, who deployed naval and aircraft units to the Persian Gulf, which serves a key conduit for East Asian trade and energy imports. [Asia Times]
Business & Finance
China and the United States concluded and signed "phase one" of the much-anticipated trade deal, indicating a partial truce in the trade war that has affected the global economy in the last couple of years. [Financial Times]
Hong Kong's credit rating was downgraded by Moody’s Investors Service to Aa3 from Aa2, citing a reduced strength of its institutions and governance. Revising the outlook from stable to negative reflects the effects of widespread anti-government protests and the subsequent police crackdown. At the same time, UNCTAD reports showing the inflow of FDI in countries across the globe estimated that Hong Kong witnessed a decline from $104 billion in 2018 to $55 billion in 2019. [Asia Times]
Health
China confirms 9 dead and 440 infected from the newly discovered coronavirus, which originated in Wuhan. Since its detection last month, the virus has now spread to the United States, Taiwan, Thailand, Japan, and South Korea. The National Health Commission of China upgraded this virus to a Class B infectious disease, which essentially gives the government authority to stop travel from and within the city. [SCMP]
Multiple travel operators have confirmed that North Korea has closed its borders for all foreign tourists amidst a rising fear of the spread of the coronavirus from China. This is a big step for Pyongyang as the tourism sector is exempted from UN Sanctions, and acts as the last resort for the North Korean government to legally earn foreign cash. [Japan Times]
Technology
Japenese automakers Toyota and Honda have announced recalling of 5.3 million vehicles from the United States over airbag deployment issues. [Strait Times]