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The future: all the unclaimed oceans will be claimed by countries
China has started the trend in the South China Sea. The made an island where there was none before. Claimed it as China's sovereign land, built military bases on it and claimed the 200 mile exclusion zone and made it into a no-fly zone.
Thus this is the first of many.
Wherever a country can create an island it will do so and claim it as sovereign land.
The next 20 years will be an "island rush" as countries stake out the worlds oceans as their own, build man made islands and militarize them.