VIETNAM HAS ITS RISK FACTOR RAISED >>
DIFFERENT POINT OF VIEW by Monte Friesner >
Financial Crime Consultant for WANTED SA >
Friday November 05, 2010 >
WANTED SA has just learned this date that China this week conducted major military exercises in the South China Sea in the area where there are unresolved territorial disputes involving island groups also claimed by Vietnam ~ the Spratly and Paracel Islands.
Since the US Secretary of State Hillary Clinton announced that America would seek to participate in the resolution of the problem, which China considers meddling in a strictly regional matter of risk levels for the Socialist Republic of Vietnam have definitely risen.
Add to this Vietnam's inability to combat rampant corruption and you may wish to reconsider your present country risk assessment for Vietnam.
China has a long claimed these two island groups as part of its national territory and it may have the most valid position under international law in light of the islands' history. Vietnam has continued to claim the Paracel Islands, which were occupied by China in 1974* after defeating forces of the former Republic of Vietnam.
The Socialist Republic of Vietnam claimed title to the islands shortly thereafter. The waters around the Spratley islands are believed to be rich in natural resources, especially oil and there are a number of nations in the region who have overlapping claims.
Remembering also that Vietnam and China who former allies fought the Sino-Vietnamese War in 1979 after Vietnam invaded Cambodia; and it is submitted that you should monitor all future political and military developments.
* Known as the Battle of the Paracel Islands.
The facts and opinions stated in this article are those of the author and not those of WANTED SA. WANTED SA does not warrant the accuracy of any facts and opinions stated in this article; does not endorse them, and accepts no responsibility for them.