Panarina Daria

Why South China Sea is Important for the Philippines: Economic Aspect

ЮГО-ВОСТОЧНАЯ АЗИЯ: АКТУАЛЬНЫЕ ПРОБЛЕМЫ РАЗВИТИЯ, 2020, №1(46), 356-369

 
Annotation: South China Sea in the Southeast Asia region has always been and remains a strategic and economic factor of the balance among many regional states as well as some outer players, including here the USA and China. To answer a question why for many states in the region, states always growing economically the SCS is a water area of great significance, what is so important in the sea for regional economies and outer states – is the main purpose of this paper. The author gives data on the riches of the SCS and explains its role as a water way for transporting oil through the region. Growing oil demand in the ASEAN countries is also examined in this work in order to speculate on possible perspectives on oil market in the region in the future.

Keywords: South China Sea, oil, reserves, demand, marine resources, transportation, liquefied natural gas