I would not recommend anything more aggressive beyond the current approach being practice and observe by the PLAN, Chinese Coast Guard. There's too much downside for humiliating a country like the Philippines - which countries in the west would simply rally with due to the size and power differential between the two countries. It's rather foolish for anyone to expect China to take a more aggressive measure which can lead to unforeseen events that frankly will cause unnecessary distraction from the most important objective which is about Taiwan. The Philippines is just a willing pawn being used against China as an annoyance and also being used as sort of a probing attack to gauge the response time, actions and countermeasures that PLA undertakes on those type of events. At least that's what the U.S. military must be trying to do.
Emotionally speaking, I would wish for China to show the Philippines their place but that's not really saying or accomplishing much to begin with.
@coolgod aren't we just simply looking for some Emotional satisfaction rather than what's strategic?