| Summary: | 碩士 === 國防大學 === 戰略研究所 === 107 === PRC started massive island building in the South China Sea in November 2013, which angered the surrounding countries. Philippine thus submitted the "South China Sea Arbitration Case," adding another uncertain factor to the long-standing South China Sea dispute. In the context of the United States "Asia-Pacific rebalancing" strategy, the US and China conducted military exercises against each other, and the situation seemed to be on the verge of an all-out confrontation. However, with the outcome of the arbitration case, the Philippine policy shift, and the US President Trump's victory, the situation in the South China Sea turned sharply. The long-standing disputes over the South China Sea are a puzzle. The disputing parties spent heavily in South China Sea region because the geostrategic importance and rich resources. However, the disputes has been recurring over the years. What exactly is the nature of the South China Sea disputes? Are the so-called great interests of strategic passage and nature resources in South China Sea true？This article argues that the strategic and economic interests of the South China Sea are not so important, and will prove this argument through strategic theory and real status of global oil and gas market.
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