What's the Big Thing Musk, Bezos and Tim Cook All Have in Common?

One of America's most controversial CEOs says, "A new form of money in America is making some people (including Elon Musk, Jeff Bezos, and 17 of America's 25 wealthiest individuals), rich. It has nothing to do with gold, bitcoin, or anything like that, but it's 100% legal. The problem? Few Americans have a real understanding of how it works.

US Ally Slams China's Claims Of Vessel Collision As 'Deceptive And Misleading' Amid Rising South China Sea Tensions

Benzinga Neuro
June 17, 2024

A collision between Chinese and Philippine vessels near the Spratly Islands in the South China Sea has ignited a dispute, with the U.S. ally accusing Beijing of propagating deceptive information.

What Happened: The Chinese Coast Guard asserted that the Philippine vessel approached the Chinese ship near Second Thomas Shoal and disregarded warnings, according to a Bloomberg report on Monday. The Chinese Coast Guard then implemented “control measures” in line with the law.

The Philippine military, however, refuted the Chinese Coast Guard’s claims as “deceptive and misleading”. They declined to share operational details and criticized China for its “illegal” presence within the Philippine exclusive economic zone.

See Also: Trump Vs. Biden: Latest Poll Results In Key State Of Virginia Spells Trouble For One Candidate And His Party

Over the weekend, the Philippines submitted data to a United Nations commission, registering its entitlement to an extended continental shelf in the Western Palawan region in the disputed sea, further escalating the ongoing contention between Manila and Beijing over the resource-rich waters of the South China Sea.

Why It Matters: This incident follows a series of events that have been escalating tensions in the South China Sea. In early May, the Philippines pledged to de-escalate tensions in the region, with President Ferdinand Marcos Jr. rejecting the use of water cannons or any other offensive weapons.

However, just a few days later, China dismissed allegations by the Philippine coastguard of constructing an artificial island in the disputed Sabina Shoal, South China Sea. Chinese foreign ministry spokesperson, Wang Wenbin, labeled the claims as "groundless and pure fabrication," urging the Philippines to cease spreading rumors and return to resolving disputes through negotiations.

Read Next: Biden Vs. Trump Matchup In Key Swing State Of Arizona Shows One Candidate Pulls Ahead With Appreciable Lead, But This Demographic Could Tip The Scale For Either Candidate

Image via Shutterstock

This story was generated using Benzinga Neuro and edited by Pooja Rajkumari

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