China Finds New Way To Tank Its Economy
Saturday, Hong Kong’s South China Morning Post reported that Chinese craft were about to leave port to fish in the exclusive economic zones of other states. Moreover, the paper reported that the Chinese have resumed blocking Philippine fishing boats around Scarborough Shoal, an act in direct contravention of the arbitral award handed down in The Hague on Tuesday in the landmark case of Philippines vs. China. The award is a setback for Beijing in many respects, but the Chinese look like they will make a bad situation worse by turning a geopolitical defeat into an economic disaster. In short, China’s repudiation of the award can anger its trading partners at a time when Beijing needs their cooperation. ...
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