What is the economic importance of South China Sea?

The South China Sea is a region of tremendous economic and geostrategic importance. One-third of the world’s maritime shipping passes through it, carrying over US$3 trillion in trade each year. Huge oil and natural gas reserves are believed to lie beneath its seabed.

What is the advantage the South China Sea?

It provides relative “sanctuary” for its second-strike nuclear submarines that would be its insurance in case of a first strike against it. In terms of trade too, the South China Sea is an important route for China — with 80 per cent of its energy imports and 39.5 per cent of total trade passing through here.

What does China claim in the South China Sea?

Insofar as territorial sovereignty claims to the land features is concerned, China claims sovereignty over the South China Sea Islands (Nanhai Zhudao), which comprise of the Pratas Islands (Dongsha Qundao), the Paracel Islands (Xisha Qundao), Macclesfield Bank and Scarborough Shoal (Zhongsha Qundao) and the Spratlys …

Why South China Sea is strategically important for India?

India has wider stakes in South China Sea as nearly 55\% of India’s trade with the Indo-Pacific region passes through these waters. New Delhi’s interest is primarily to keep the region’s trade routes safe and secure, thereby helping uphold regional stability and freedom of navigation.

How much of US trade goes through the South China Sea?

An estimated US$3.37 trillion worth of global trade passes through the South China Sea annually, which accounts for a third of the global maritime trade. 80 percent of China’s energy imports and 39.5 percent of China’s total trade passes through the South China Sea.

How much US trade passes through the South China Sea?

A whooping 5.3 Trillion USD trade is passing through the South China Sea it every year. More than 60\% of global maritime trade and more than 22\% of total global trade passes through this waterbody.