Describe the South China Sea conflict, including who is involved, what resources are being disputed, and what is being done in a fully developed paragraph.

The South China Sea conflict involves multiple countries disputing territorial claims over the South China Sea, a strategically important body of water in Southeast Asia. The main countries involved in the dispute include China, Vietnam, the Philippines, Malaysia, Brunei, and Taiwan. The conflict primarily revolves around the control and ownership of various islands, reefs, and shoals in the South China Sea, particularly the Paracel Islands and the Spratly Islands. These contested areas are believed to hold substantial oil and natural gas reserves, as well as valuable fishing grounds. Additionally, the South China Sea is a vital trade route, with around $5 trillion worth of goods passing through it each year. The dispute has resulted in heightened tensions, military build-up, and occasional clashes between the parties involved. Various countries have taken steps to protect their interests, such as conducting military exercises, establishing military outposts on disputed islands, and filing international legal claims. International efforts, including negotiations and arbitration, have been made to resolve the conflict and establish a regional code of conduct; however, progress has been slow, and tensions persist in the region.