BY Ralph Jennings Follow | 07/21/14 - 01:21 PM EDT
TAIPEI (TheStreet) -- China's removal of a giant oil rig from waters disputed by Vietnam gives Hanoi everything it wanted -- but it will not resolve the bigger problem of bad blood between the two countries or calm tensions in an internationally prized ocean.
Beijing said July 15 it had removed a $1 billion rig that was placed in the South China Sea on May 2. The rig was operated by China's state-owned CNOOC (traded in Hong Kong), and was positioned in water that Vietnam -- long trustful of its Communist neighbor -- had sighted for its own exploration.
