China and Vietnam are fighting again - they both claim the Paracel Islands and Vietnam is not happy about China drilling there

Livewire
China and Vietnam are fighting again - they both claim the Paracel Islands and Vietnam is not happy about China drilling there. CNN: China maintains that its current drilling activities are legitimate and blames the Vietnamese for provoking the conflict. At a daily press briefing in Beijing Tuesday, Chinese Ministry of Foreign Affairs spokesman Qin Gang said the Vietnamese vessel had forcefully intruded into the area where its drilling rig was operating, then ran into the left side of a Chinese fishing boat before capsizing. I want to stress that the direct cause for this incident is that the Vietnamese side insisted on disturbing the normal operation by the Chinese side and took dangerous action on the sea. We once again urge the Vietnamese side to stop immediately all kinds of disruptive and damaging activities. There is no dispute concerning the sovereignty of the Xisha islands. They are Chinese territory.

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Livewire News brings you a wide range of financial insights with a focus on Global Macro, Fixed Income, Currencies and Commodities.
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