BESIDES CHEAP LABOR COSTS, WHAT investors treasure most is the social stability of an investment destination. The latter is even more valuable than the former as social instability will greatly compromise the benefits that cheap labor brings about.
The unstable situation which began recently in the South China Sea thus seems to reveal a tacit agreement between the Philippines and Vietnam.
It is true that there is a territorial dispute between China and Vietnam over some islands and reefs of the Nansha Islands, but there is not any dispute between the two countries over the Xisha Islands in which the Zhongjian Island is included.
It should thus be clear to the international community that Manila, not Beijing, has violated the DOC and the UNCLOS, as well as further damaged the fragile Sino-Philippine relations.
In a reckless move that further undermined the peace of South China Sea, Manila went ahead with a premeditated plot to provoke Beijing in a vain wish to infringe upon China's sovereignty.
The Philippines has violated the United Nations Convention on the Law of the Sea, which it has been trying to use to legalize its claim on China's islands in the South China Sea.
Beijing must make sure that countries like the Philippines and Vietnam know blackmail and extortion will not work.
The Philippines should stop creating trouble in the South China Sea and testing Beijing's patience, because even with US help it cannot win an all-out confrontation with China.
In safeguarding its marine rights and interests, China attaches great importance to legitimacy. In dealing with the disputes in the South China Sea, China complies with the United Nations Convention on the Law of the Sea and international norms.
It is time for Manila to act responsibly and practically and return to the right track of settling the dispute with China through dialogue and consultation.
By seeking arbitration the Philippines is seeking to 'legitimize' and gain US support for its invasion of China's territory.
To cultivate a good environment for the upcoming consultations and negotiations, China and ASEAN should guard against any attempts to derail efforts in building on the current positive momentum.
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263 Registration Number: 130349 
