These small Filipino islands off of Palawan are not far from the disputed Spratly Islands, over 750 islets, cays, reefs and islands, claimed by Peoples Republic of China, the Philippines, Taiwan (Republic of China), Malaysia and Vietnam.  Like the Senkaku Islands, there are more important territorial issues at play than the islands themselves.  There are believed to be significant oil and gas deposits below the sea floor.  More important, the Peoples Republic of China seeks to dominate the entire core of the South China Sea, now considered international waters, as the United States dominates the Caribbean Sea except that 1/3 of the world's maritime traffic and half of Japan's and South Korea's petroleum, which fuel these economic powerhouses, passes these waters.    There is another set of 30 disputed islets and reefs called the Paracel Islands that South Vietnam and China fought over in 1974 and led to China securing them and, you guessed it, there are believed to be significant gas and oil deposits underneath the islands.