STATUS QUO IN THE SOUTH CHINA SEA?:

China has assured the Philippines it will not occupy new features or territory in the South China Sea, under a new “status quo” brokered by Manila as both sides try to strengthen their relations, the Philippine defense minister said.

Philippine Foreign Secretary Alan Peter Cayetano also said the Philippines was working on a “commercial deal” with China to explore and exploit oil and gas resources in disputed areas of the South China Sea with an aim to begin drilling within a year.

This deal is bilateral. The U.S., Japan and Australia have floated a “code of conduct” proposal for the region that sounds similar to this agreement. Will Beijing live up to this emerging deal with Manila? Good question.