I'm thinking if the South China Sea is as lawless, pirate-filled, and empty as the pirate threads make mention of..... it might be a place where a container ship full of several thousand TFLers armed to the teeth and supplied with the best homesteading gear 21st century America could make could make a go of it....
Of course, having (a) sanitsed the place of pirate activity, (b) made the islands suitable for human habitation (c) set up desalination plants, irrugation, produce farms et al (d) installed Broadband, then there's bound to be SOMEONE who'll claim that the island was part of their historical stomping ground and attempt to wrest the whole thing by force.
Cue Butch and Sundance Moment for TFL Colony 1.
Pardon my glum outlook, it's probably just the 'flu speaking.