Sweeping ruling against China will have lasting impact globally

China suffered a major defeat Tuesday as an international court rebuked its claims on distant waters that contain the world's busiest shipping lanes and declared some of its expansionary tactics illegal. 

A tribunal at the Permanent Court of Arbitration in The Hague, Netherlands, issued the ruling in a dispute between China and thePhilippines, a U.S. ally. The decision — and the responses of both those countries and others — could mark one of the most significant geopolitical events in years, according to experts.

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