00:00 It's Benzinga and here's what's on the block.
00:02 China and the Philippines have accused each other of causing collisions in the South China
00:06 Sea.
00:07 The Philippine government claims that a Chinese coast guard ship engaged in dangerous maneuvers
00:10 that led to a collision with a Philippine vessel.
00:13 China's coast guard accuses the Philippines of violating international marine law.
00:17 Beijing claims indisputable sovereignty over most of the South China Sea despite a 2016
00:21 international tribunal ruling against its claims.
00:24 It accused Philippine vessels of illegal entry in waters it claims.
00:28 The collisions come after recent tensions between the two countries, including disputes
00:31 over territorial claims and accusations of damage to coral reefs.
00:35 For all things money, visit Benzinga.com.
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