Although the Award clarifies littoral states’ rights and entitlements under UNCLOS regarding fishing and the exploitation of living resources in certain areas of the South China Sea, there remains controversy as China and Taiwan have indicated that the Award has no legal effect on their rights, entitlements, and activities in the maritime area. This disagreement and lack of resolution of the issue raises the possibility of three scenarios – two positive and one negative – emerging.
Tag: resource economics
Issue Briefings, 15 · 2016
A decade ago, China and the Philippines demonstrated that they had the resolve to cooperate on joint exploration projects, but nationalist outcry in the Philippines derailed these efforts. Now that the Philippines v. China arbitration case has concluded, reviving the Joint Marine Seismic Undertaking (JMSU) or a similar program may once again offer a win-win solution.