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© The Financial Times Ltd 2012 FT and 'Financial Times' are trademarks of The Financial Times Ltd.
David Pilling is the Asia editor of the Financial Times. He was previously Tokyo Bureau Chief for the FT from January 2002 to August 2008. His column ranges
over business, investment, politics and economics.
Nine dragons stir up the South China Sea
A proliferation of agencies may be pushing the boundaries of Chinese policy