Building ‘Railroads on the Sea‘: China's Attitude towards Maritime Law
It is very likely that in the near future the oceans will constitute the main source of international conflict. The world has an ever increasing need for the ocean's fish and minerals, and modern technology now makes it possible to exploit these resources to a degree previously unheard of. But only the industrialized countries can afford such exploitation because of the tremendous amounts of money and expertise involved. The less developed countries are no longer prepared to accept such a situation and they have called for the establishment of international regulations that would ensure a fair distribution of the ocean's resources. An attempt to deal with these problems was made at a U.N. conference held in Caracas, Venezuela, which opened on 20 June 1974.