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CHINA: The Philippines Is Facing Its 'Last Chance' In Heated Territory Dispute

• http://www.businessinsider.com, Robert Johnson
The three countries have been going back-and-forth over rights to supposed oil and gas reserves throughout the region, with Malaysia, Taiwan and Brunei also attempting to lay claim on the deposits.

There were hopes the issue would be brought closer to resolution during the recent Association of Southeast Asian Nations summit in Cambodia, but that get-together seems to have had exactly the opposite effect.

Brian Spegele at the WSJ's China Real Time Reports that Chinese Major General Luo Yuan left the summit, got back to China and penned a warning to the island nation that he published in the Global Times newspaper.

In it, he warns the Philippines that it's facing its "last chance" to reach an agreement on the resource laden South China Sea and the Spratly Islands.
 
In one swift move Luo brought renewed attention on what Spegele calls the "region’s hottest potential military flashpoint."

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