The Philippines has escalated a regional dispute with Beijing over the South China Sea, home to huge potential oil and gas reserves, by seeking U.N. arbitration over a deliberately beached ship that Manila uses to fend off Chinese sovereignty claims.
The outcome could affect at least six nations and one-third of global commerce which passes through the waters each year.
Click HERE to read an exclusive analysis by LIGNET's top intelligence experts.
© 2015 Newsmax. All rights reserved.