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The incident is part of a series of confrontations that underline the rising stakes in the South China Sea. Reports note that these encounters between Chinese and Philippine vessels are becoming increasingly frequent, suggesting a potential for heightened conflict.
Stakes of the South China Sea
The strategic importance of the South China Sea is immense. Beneath its waters lie vast reserves of oil and gas, with estimates suggesting millions of barrels are still untapped. Moreover, the shipping routes that crisscross the sea carry approximately $3.4 trillion in trade annually, making it a vital artery for global commerce. The dwindling fisheries in the area further complicate the stakes, as they support millions of livelihoods across neighboring nations.