Rappler Thought Leaders, Jc Punongbayan, West Philippine Sea, Marine Wealth

Rappler Thought Leaders, Jc Punongbayan

[ANALYSIS] Just how valuable is the West Philippine Sea?

On September 12, 2012, the South China Sea was officially renamed the West Philippine Sea. [ANALYSIS] Just how valuable is the West Philippine Sea?

11.9.2019

On September 12, 2012, the South China Sea was officially renamed the West Philippine Sea . [ANALYSIS] Just how valuable is the West Philippine Sea ?

The monetary value of our marine ecosystems in 2007 was thought to be US$966.59 billion, or close to $1 trillion. Using the 2007 exchange rate, that’s P44.61 trillion or nearly 6.5 times our GDP back then.

Even a small portion of these resources could go a long way to ensure the Philippines’ energy security in the coming decades.

By Justice Carpio’s reckoning – and based on China’s dubious nine-dash line – China aims to grab from us a total of 531,000 sq km of maritime space.

Much more crucial is how we assert our sovereign rights as spelled out by our Constitution and the 2016 arbitral tribunal ruling.

. This follows a related memorandum of understanding signed between Manila and Beijing in November.

Read more: Rappler

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