PHNOM PENH， July 12 (Xinhua) -- The award of an arbitral tribunal in the South China Sea arbitration established at the request of the Philippines will resolve nothing and merely stir regional tension， an expert here said Tuesday.
The tribunal unilaterally initiated by the former Philippine government issued its final award on Tuesday， amid a global chorus that the panel has no jurisdiction.
China， on the same day， said it neither accepts nor recognizes the award. ""The award is null and void and has no binding force，"" the Chinese Foreign Ministry said in a statement.
Joseph Matthews， director of ASEAN Education Center， said in an interview with Xinhua that from the beginning， the arbitral tribunal was under the sway of the United States and its ally Japan.
""This is a one-sided verdict based on China-phobia， which ultimately creates the tensions， and confrontational situations in the South China Sea，"" he said.
Matthews pointed out that the dispute between the Philippines and China is absolutely a bilateral issue， which can only be solved through bilateral dialogue and consultation.
""Today's ruling will change nothing in the South China Sea，"" he said， adding that China is committed to safeguarding its own territorial sovereignty and legitimate maritime rights as well as peace and stability in the sea.
He also stressed that countries outside the region should not interfere in the South China Sea issue.
""It is very important for the U.S. to stop all kinds of interference and its suggestions regarding the regional conflicts，"" the expert said.
If the United States opts， however， to continue its intimidating policy and hegemonic presence there， it will clearly show that its intention is to deliberately stir tension in the region， he said.
Matthews noted that it is also the responsibility of the incumbents in Manila to understand and recognize the importance of dialogue and negotiation without involving any third party.
""Manila should and must be mindful that any conflict in the region will jeopardize its economy and regional stability， and hence must not let outsiders guide or sway it on the foreign and internal policy of the Philippines，"" he said.
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WASHINGTON， Sept. 18 (Xinhua) -- International Monetary Fund (IMF) Managing Director Christine Lagarde on Sunday called for efforts to combat corruption in order to restore trust in institutions and push forward globalization.
""Coming on the heels of the financial crisis， this backlash (against globalization) has evolved into a deeper problem -- a growing gap in trust in institutions，"" said Lagarde at the International Bar Association Conference on Sunday.
She cited a 2016 survey result from the consulting firm Edelman as saying that trust among the broader public in government institutions and the financial services industry was the lowest since 2008， while trust among the elites in all institutions is at an all-time high.
""A key factor fueling this distrust is corrupt and unethical behavior， actual or perceived -- and in both the public and private sector，"" said Lagarde.
According to an IMF study， the annual cost of bribery alone is estimated at a massive 1.5 trillion to 2 trillion U.S. dollars， roughly 2 percent of global GDP.
Lagarde said that corruption in the public sector weakens fiscal capacity， discourages investment， perpetuates inefficiency， and entrenches poverty and inequality.
She called on countries to strengthen the rule of law， increase fiscal transparency， and combat money laundering in order to rein in corruption in the public sector.
Lagarde also called for efforts to improve regulation and supervision， and strengthen ethics education in order to combat corruption in the private sector.
""Enhancing integrity in public and private sector governance is critical in mending the trust divide we see in societies today. Only then can we have enough confidence in the very institutions that are essential for sustained and inclusive growth，"" said Lagarde.
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