One year ago, China’s state-owned China National Offshore Oil Company (CNOOC) moved an exploratory oil rig, Haiyang Shiyou 981 (HD-981), worth an estimated $1 billion, into waters within Vietnam’s exclusive economic zone. The incident sparked a major bilateral crisis between the two countries—both of whom claim the disputed Paracel Islands. […]
The Diplomat via CHINA US Focus http://ift.tt/1RB0irL
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