Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

China, Vietnam to address maritime disputes without using 'megaphone diplomacy:' Xinhua

Published 12/27/2014, 10:03 AM
Updated 12/27/2014, 10:03 AM
© Reuters. Vietnam's Prime Minister Nguyen Tan Dung speaks during the opening ceremony of the 5th Greater Mekong Subregion (GMS) Summit at a hotel in Bangkok

SHANGHAI (Reuters) - Senior Chinese and Vietnamese officials have agreed to settle their maritime disputes without resorting to "megaphone diplomacy", the official Xinhua news service said on Saturday.

The agency's report follows a meeting in Hanoi on Friday between Chinese political advisor Yu Zhengsheng and Vietnamese Prime Minister Nguyen Tan Dung, and it comes as Beijing backs off from aggressive attempts to press its territorial claims in the South China Sea.

"Megaphone diplomacy can only trigger volatility in public opinion, which should be avoided by both sides," the report quoted Yu as saying.

"The maritime issue is highly complicated and sensitive, which requires negotiations to manage and control differences," he said.

Although major trading partners and sharing the same nominal commitment to communism, China and Vietnam have a long history of distrust and conflict, including a short war in 1978 when Chinese troops invaded Vietnam in response to Hanoi's invasion of Cambodia, run at the time by the China-backed genocidal Khmer Rouge regime.

Both governments, which lay claim to revolutionary credentials of resistance to foreign invaders, must also placate their respective nationalists demanding more aggressive defense of territory.

The conflict has been aggravated in recent years as China has grown more assertive about its claims in South China Sea, which set China's sea border hundreds of kilometers south of its land mass to hug most Vietnam's coast.

China pressed those claims dramatically early in 2014 by placing an oil drilling rig in waters claimed by Vietnam, then confronted Vietnamese vessels attempting to approach the platform with water cannon and ramming tactics.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Vietnamese citizens reacted by trashing Chinese factories (and factories they mistook for Chinese) inside Vietnam, and the government moved to warm military ties with the U.S. and also bought two Kilo-class attack submarines from Russia as a deterrent.

Beijing has since removed the oil rig and has signaled it wants better relations with Vietnam. China has recently launched initiatives for a regional investment bank and an infrastructure fund that would position it as a benevolent driver of regional economic development.

(Reporting by Pete Sweeney)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.