Presented by Alfonso A. De Dios at a forum titled "China's Financial Technology and E-Commerce Experience" held on August 9, 2018 at the University of the Philippines' Bonifacio Global City Campus, Taguig City. The forum was organized by Asia Pacific Pathways to Progress and UP Institute for Small-Scale Industries, with Entrepreneur Philippines as the media partner.
Presented by Maria Lourdes Yaptinchay at a forum titled "China's Financial Technology and E-Commerce Experience: Exploring Implications for the Philippines" held on August 9, 2018 at University of the Philippines Bonifacio Global City Campus, Taguig City. The forum was organized by Asia Pacific Pathways to Progress and UP Institute for Small-Scale Industries with Entrepreneur Philippines as the media partner.
This is the second product of the CSIS Expert Working Group on the South China Sea, which seeks to chart a feasible model for claimants to manage the maritime disputes in the region. It first appeared here.
Competition for oil and gas resources has repeatedly triggered standoffs between claimants in the South China Sea in recent years, especially between China, the Philippines, and Vietnam. The last serious attempt to cooperate on this front was the trilateral Joint Marine Seismic Undertaking of 2005 to 2008, which was allowed to expire amid political controversy and questions about its constitutionality in the Philippines. Since late 2016, the Philippine and Chinese governments have been discussing joint development of hydrocarbons at Reed Bank, but there has been little apparent progress despite optimistic official pronouncements. Independent experts and prominent jurists in the Philippines have said any such scheme would likely be unconstitutional based on the strict provisions in the country’s charter demanding that the government protect the nation’s rights to offshore resources.
The U.S. Energy Information Agency estimates that the South China Sea holds about 190 trillion cubic feet of natural gas and 11 billion barrels of oil in proved and probable reserves, most of which lies along the margins of the South China Sea rather than under disputed islets and reefs. The U.S. Geological Survey in 2012 estimated that there could be another 160 trillion cubic feet of natural gas and 12 billion barrels of oil undiscovered in the South China Sea. Beijing’s estimates for hydrocarbon resources under the sea are considerably higher, but still modest in relation to China’s overall demand—the country’s oil consumption in 2018 is expected to top 12.8 million barrels per day.
Date and Time: July 24, 2018, 12:00-14:00 | Venue: Tonan Tei (Rm. 201 Inamori Memorial Building)