South China Sea: Court rules in favor of Philippines over China

An international tribunal in The Hague ruled in favor of the Philippines in a maritime dispute Tuesday, concluding China has no legal basis to claim historic rights to the bulk of the South China Sea. Chinese President Xi Jinping rejected the decision by the Permanent Court of Arbitration, which is likely to have lasting implications for the resource-rich hot spot, which sees $5 trillion worth of shipborne trade pass through each year.

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