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- China has a plan in motion to lock down potential oil and gas assets in the resource-rich, but hotly contested South China Seas.
- If successful, the move would effectively ban exploration by countries from outside the region, further isolating local powers from US support.
- China is using drawn-out negotiations over the issue to further divide its South East Asian neighbors on the issue.
- Premier Li Keqiang says he hopes talks will be completed in about three years from now.
China is preparing to lock down potential oil and gas assets in the resource-rich, but hotly contested South China Sea by effectively banning exploration by countries from outside the region.
The Nikkei Asian Review reports that China, as part of a longer-term strategy that seeks to divide its South East Asian neighbors on the issue, has embedded the proposal in part of a long-awaited code of conduct for the contested waters.See the rest of the story at Business Insider
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