MANILA/BEIJING (Reuters) - A Chinese frigate grounded in disputed waters close to the Philippines was refloated on Sunday and headed back home, averting a possible standoff with the Philippines navy amid rising tensions in the strategically key South China Sea.
The South China Sea has become Asia's biggest potential military flashpoint as Beijing's sovereignty claim over the huge area has set it against Vietnam and the Philippines as the three countries race to tap possibly huge oil reserves.
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