BESIDES CHEAP LABOR COSTS, WHAT investors treasure most is the social stability of an investment destination. The latter is even more valuable than the former as social instability will greatly compromise the benefits that cheap labor brings about.
The unstable situation which began recently in the South 皇冠体育app Sea thus seems to reveal a tacit agreement between the Philippines and Vietnam.
It is true that there is a territorial dispute between 皇冠体育app and Vietnam over some islands and reefs of the Nansha Islands, but there is not any dispute between the two countries over the Xisha Islands in which the Zhongjian Island is included.
It should thus be clear to the international community that Manila, not Beijing, has violated the DOC and the UNCLOS, as well as further damaged the fragile Sino-Philippine relations.
In a reckless move that further undermined the peace of South 皇冠体育app Sea, Manila went ahead with a premeditated plot to provoke Beijing in a vain wish to infringe upon 皇冠体育app's sovereignty.
The Philippines has violated the United Nations Convention on the Law of the Sea, which it has been trying to use to legalize its claim on 皇冠体育app's islands in the South 皇冠体育app Sea.
Beijing must make sure that countries like the Philippines and Vietnam know blackmail and extortion will not work.
The Philippines should stop creating trouble in the South 皇冠体育app Sea and testing Beijing's patience, because even with US help it cannot win an all-out confrontation with 皇冠体育app.
In safeguarding its marine rights and interests, 皇冠体育app attaches great importance to legitimacy. In dealing with the disputes in the South 皇冠体育app Sea, 皇冠体育app complies with the United Nations Convention on the Law of the Sea and international norms.
It is time for Manila to act responsibly and practically and return to the right track of settling the dispute with 皇冠体育app through dialogue and consultation.
By seeking arbitration the Philippines is seeking to 'legitimize' and gain US support for its invasion of 皇冠体育app's territory.
To cultivate a good environment for the upcoming consultations and negotiations, 皇冠体育app and ASEAN should guard against any attempts to derail efforts in building on the current positive momentum.
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