China fights the Philippines for Scarborough Shoal: Stressing out the details on Economy

Did you already hear the latest news about China claiming the Scarborough Shoal? this issue was not only found in the newspaper or on their corresponding websites, but also in Social Networking Sites like facebook (user-made posts and pictures about the whole issue) and twitter (there was a trending topic called  #OccupyPhilippines and it was about people from the Philippines hacking a website in China [Link]).
 If not, then here's an overview:

"Thursday, April 19, 2012
MANILA -- China said Wednesday that the Philippines is violating maritime law by claiming a shoal in the South China Sea and dismissed Manila's request to take the dispute to an international court.
"We believe it runs counter to historical facts and violates the law," said Liu Weimin, a spokesman for the Foreign Ministry.
Philippine Navy and Chinese maritime patrol vessels engaged in a standoff last week over a fishing incident near the Scarborough shoal in the South China Sea, an area both sides claim as sovereign territory... " 
- Sunstar Manila (Link)
  
 China claimed that the island was theirs in the first place, saying something about historical events and whatnot. They also claimed that the Filipino residents had no right whatsoever to claim and own Scarborough Shoal when it is in the Exclusive Economic Zone (EEZ) of the Philippines. This issue was and is still alarming to the fact that this was part of our resources and if they take it, the economy might get lower. Remember the Spratly islands issue? China also nonchalantly claimed that the island was theirs and it shouldn't be a part of the Philippine territory? it's the same issue that's happening right now, but in another different setting.


Weird isn't it?  Why would a country so economically prosperous target territories of a third-world country with almost no economic advancement at all? They should stop bullying and stop claiming too much land. In all honesty, the Philippines should own Scarborough Shoal, and even the Spratly islands.

To continue on with my actual topic, since i know that this whole essay is going out-of-hand, I'll give out certain reasons what would happen if Scarborough Shoal was taken by the Philippines in terms of Economics. firstly,
 the resources the Philippines can find in the Scarborough Shoal may help in rising their economy since it's a rich fishing ground, helps, unlike China that has a wide land to cover containing a lot of resources that can support its people. Also, since the Philippines has low unemployment rate, the island and the reef can help since the government will hire more miners and fishermen for it. More territories mean more resources, and more resources mean more workers. Finally, the Philippines might pay off some of its debts if ever they will own it.