Aquino: ‘Whole world stands to lose if sea dispute leads to war’

 

The “whole world stands to lose” if the territorial dispute over the South China Sea escalates to a war, President Benigno Aquino III on Wednesday cautioned.

Manila refers to parts of the disputed waters as West Philippine Sea.

At the Publish Asia conference held at the Manila Hotel, Aquino was asked about the possibility of the sea dispute leading to war.

“All claimant countries in the South China Sea recognize – and other countries that are adjacent to the sea that are not claimant countries – all realized that war is a futile exercise. Nobody stands to gain and, in fact, the whole world stands to lose if it does amount to war,” Aquino said.

“We have no illusions of ever trying to march – trying to engage anybody in an arms race or in a military buildup. We would rather devote our resources to the classical economic argument that the butter side rather than the gun side of choosing where to put our resources in,” he said.

Aside from China and the Philippines, other countries with overlapping claims over the South China Sea are Brunei, Malaysia, Vietnam, and Taiwan.

 

Uncertainty breeds instability

Aquino emphasized the need to resolve the dispute peacefully, saying “a period of instability does not help in fostering prosperity for all.

“The uncertainty breeds instability, instability does not promote prosperity. Therefore, let us resolve with certainty the issues that are before us: Who is entitled to what? And what is each one's obligations relative to these entitlements?” Aquino noted.

The Philippines is seeking arbitration in The Hague to resolve the territorial dispute.

He has repeatedly urged members of the Association of South East Asian Nations (ASEAN) to pressure Beijing into subscribing to a binding code of conduct in the region.

“We are glad that our voice has been heard, and the voice of others who are similarly situated has been noted, and there has been positive movements towards resolving this particular crisis,” the President said.

The Philippines stands to lose its entire west coast if China will insist on its so-called nine-dash line claim over its supposed territorial waters.

“We are supposed to have a 36,000-kilometer coastline. We are supposed to have an EEZ (exclusive economic zone) of 200, stretching from those baselines. And suddenly, we are gonna' lose about half if we agree to this position,” Aquino said. – VDS, GMA News