While the dispute between China and the Philippines around territorial claims in the South China Sea keeps escalating, economic relations between the two are “business as usual.” However, the growing disagreement could cause economic complications for Manila.
The current fight centers around a WWII-era warship, the BRP Sierra Madre, currently grounded on the Second Thomas Shoal. The Philippines is using the ship as a de facto military base to project its claim in the region. Chinese coast guard vessels are accused of using a water cannon to disrupt a resupply mission to the wreck.
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