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Showing posts with the label South-China-Sea

South China Sea

South China Sea (SCS) is im­portant not just to its littoral coun­tries. It has been a transit point for trade since early medieval times, contains abundantly rich fisheries, and is a repository of mineral depo­sits and hydrocarbon reserves. Importance of South China Sea Strategic Location : key commercial point connecting Asia with Europe and Africa One third of global shipping , or a total of US$3.37 trillion of international trade, passes through the South China Sea. around 80 percent of Beijing’s imports of oil reach through the South China Sea after passing the Strait of Malacca Up to 97% of India’s total International trade volume is sea borne, half of which passes through the strait of Malacca. In addition, ASEAN constitutes one of India’s largest trade partners. Any instability in the SCS would adversely affect the shipping lanes and have a knock-on effect on India’s economy Natural Resource : major reserves of natural resources, such as natural gas and oil Fisheri...