China is trying to grab it from the Philippines. Panatag (Scarborough) Shaol is off the cost of Manila, and has been under Philippine control for quite some time. China asserted its claim after some Chinese fishermen were detained by Philippine forces when they were caught with illegal cargo of coral, sharks and other sea creatures. This touched off the current confrontation and dispute between the two countries over this island.
The Philippines is in a less advantageous position in this conflict, while there is a wuss at the helm of its historical ally, the U.S.A.