The South China Sea border dispute between the Philippines and China has taken a dramatic turn after a recent maritime conflict escalated tensions in the disputed region.
What Happened: CNBC reported on Sunday that over the weekend, the Philippine Coast Guard accused China of ramming their vessels and discharging water cannons, causing “serious engine damage.” The Chinese Coast Guard countered the allegations, blaming the Philippine vessel for the collision.
The incident occurred in the Second Thomas Shoal, a part of the international Spratly Islands located in the Philippines’ exclusive economic zone. The National Task Force-West Philippine Sea confirmed that the damaged vessel is being towed back to the Palawan province.
See Also: ‘The New Doge’: Crypto Analyst Van De Poppe Says This Meme Coin Is Ready For A Bullish Run
Why It Matters: This incident comes on the heels of China’s accusation that a U.S. naval vessel violated its sovereignty by sailing close to the Second Thomas Shoal earlier this month. The Chinese military had then claimed that the actions of the USS Gabrielle Giffords had jeopardized regional peace and stability.
Tensions in the South China Sea have also increased between Chinese and Philippine vessels. The situation has been further complicated by U.S. involvement as a Philippine treaty ally.
Image by Andy.LIU via Shutterstock
Engineered by Benzinga Neuro, Edited by Pooja Rajkumari
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
