Beijing (Reuters) -The Philippines and China traded accusations on Sunday over a collision of their vessels in disputed waters of the South China Sea as tensions over claims in the vital waterway escalate. The Philippine coast guard accused China of firing water cannons and ramming resupply vessels and a coast guard ship, causing “serious engine damage” to one, while China’s coast guard said the Philippine vessel intentionally rammed its ship. China claims almost the entire South China Sea, a conduit for more than $3 trillion of annual ship-borne commerce, including parts claimed by the Philip…