According Bangladesh. Extending over 22.2 km from the coastal

According to the International Monetary Fund (IMF),
Bangladesh’s economy is the second fastest growing major economy of 2016, with
a rate of 7.1%. Its economy is based on the export it does, through water ways
which is adversely affected by the South China Sea dispute as its route lies
there as well.

How is
it affected? The South China Sea dispute
involves 6 countries, namely China (including Taiwan, who maintains similar
claims as China), Brunei, Indonesia, Malaysia, the Philippines and Vietnam. The
main issues of the dispute involve territorial claim and demarcation of
territorial sea and Exclusive Economic Zone (EEZ) generated by the territory.
Not only that China
has built several artificial islands in the South China Sea which are planned
for making military bases. In the far future, after the completion of these
military bases, they might not allow the free passage for the transportation
ships and containers of other countries resulting in heavy loss of economy for
many nations (using that route) including Bangladesh. Even if China removes its
military bases from the artificial island and its claim over South China Sea,
the claims made by the other nations (Brunei, Indonesia, Malaysia, Philippines
and Vietnam) might result in cold war with even worse consequences for economy
of Bangladesh.

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Extending
over 22.2 km from the coastal baseline and claiming water body is the violation
of United Nations Convention on the Law of the Sea. Since 1982, December 12
Bangladesh has been part of signed the UNCLOS and has followed it. Due to
this treaty, it has helped to maintain good relation with other countries and
helped to maintain peace among the other nations (EU, US).

If this
South China Sea dispute is not handled in time or come to an agreement;
Bangladesh might have heavy loss on its economy because it exports all of its
goods through various sea ports using this South China Sea route to its major
exporter (countries like USA, UK, Philippine). So this dispute is bringing
insecurity to government of Bangladesh. If China allows free pass for
transportation ships or alternate routes through South China Sea and claims
that sea, it will prevent cold war among the nearby nations and the dispute
might end.