The situation is evolving rapidly as the Philippines' un-apology (though they sent their condolences) may prompt Taiwan to send F-16 fighters, Kidd-class destroyers, and three or more warships, according to The Liberty Times. The threat of escalation is premised on a formal apology coming within 72 hours. As Stratfor notes, Taiwan's territorial 'claims' are "outrageously ambitious" but the various island nations all appear set on rattling sabres as mainland China stiffens its resolve against Japan over the Senkakus.
Taiwan's "ambitious" territorial claims...
Timeline of the Philippines vs Taiwan drama... (via The Global Times)
Taiwan's "ambitious" territorial claims...
Timeline of the Philippines vs Taiwan drama... (via The Global Times)
Zero Hedge
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