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Tuesday, May 15, 2012

Philippines feels the economic cost of standing up to China - CSMonitor.com

Philippines feels the economic cost of standing up to China - CSMonitor.com ;..  Philippine economy, which is dependent on a steady Chinese demand for its products.
The two countries have been locked in a tense standoff since April 10, when a Philippine naval ship attempted to arrest Chinese fishermen working off what is known internationally as the Scarborough Shoal. The Philippines claims the territory is within its exclusive economic zone, but China claims sovereignty over it, and Chinese ships blocked the arrest, ordering the Philippine ship to leave.

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