China Owes the Philippines $177 Billion Worth of Rent and Damages to West Philippine Sea
China’s coercive efforts in entering the Philippine seas might just cost them hundreds of billions of dollars. This is what Forbes contributor and political expert Anders Corr explains in his recently published piece. Corr, who holds a Ph.D. from Harvard University and has worked in the field of military intelligence and border security, claims that China owes the Philippines approximately $177 billion in damages and rent. The drastic actions taken by the Chinese government in securing reefs surrounding the archipelago had resulted in diplomatic protests from various stakeholders. Other countries are also claiming nearby land masses but have not been as aggressive as China. The large-scale dredging and construction spearheaded by the superpower has prompted the Philippines to bring the dispute to international courts, however, the most recent verdict in favour of the Philippines has been dismissed by China as null and void. Political analyst Anderson Corr weighed in on the current issues hounding several nations. If proven that China has indeed overstepped its limits and abused its power, how much does it owe the aggrieved parties? When the Permanent Arbitration Court ruled that the Mischief Reef is within the Philippines’ exclusive economic zone, it meant that the Philippine government had indisputable rights over the said territory. Meaning, China, since 1995 when it started occupying the reef, owes the Philippines $12.4 billion in rent and irreparable damages. In the event that it refuses to pay, the Philippines can file cases in other countries wherein China keeps significant assets.
Corr, who also owns self-titled company Corr Analytics, used as benchmark the monetary penalties paid out by the US to the Philippines for the coral reef destruction it caused when the USS Guardian ran aground. In total, the United States settled $1.97 million worth of damages which covered 0.58 acres of coral reef. Furthermore, he made mention of the Philippines’ demand of $1.2 billion as rental fee when US troops occupied 6 military bases at a rate of $200 million per year. In other words, China will have to pay at least $4.6 billion in environmental damages and $7.8 billion rental fee of the Mischief Reef. But the bill does not end there, since China has forcibly entered several other territories including the Scarborough Shoal in 2012, the Philippines stands to claim a whopping $71.6 billion.
1988, when Chinese forces killed 64 Vietnamese soldiers during a stand-off, Vietnam accused China of taking inhumane and unjust measures in claiming the Johnson South Reef in Spratly’s. The latter denies that an overkill occurred but a propaganda film released by the Chinese Navy itself seems to confirm the allegation. Apparently, 64 men were mercilessly shot by military personnel on Chinese ships while the victims were standing knee-deep in the waters. Within seconds, all of the defenceless soldiers died.
In summary, the total fees which covers for both rental and ecological destruction caused by China in occupying, dredging, and building massive structures on territories in the West Philippine Sea is at an astounding $177 billion.