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During the Warring States period, the State of Zhao was preparing to attack the State of Yan. The King of Yan sent Su Dai to persuade the King of Zhao not to engage in war.
Su Dai told the King a story: A snipe was pecking at a clam on the riverbank. The clam suddenly snapped shut, clamping onto the snipe's beak. Neither the snipe nor the clam was willing to release the other. While they were locked in this stalemate, a passing fisherman easily captured both of them.
Su Dai then explained, 'If the States of Yan and Zhao go to war, both will be exhausted and weakened, and the powerful State of Qin will be like the fisherman, easily conquering both of us.' Hearing this, the King of Zhao abandoned his plan to attack Yan.

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Open the tool →鹬蚌相持,渔翁得利 (yù bàng xiāng chí , yú wēng dé lì) is a Chinese idiom (chengyu) meaning “When two parties are engaged in a fierce struggle or dispute”.
鹬蚌相持,渔翁得利 is pronounced yù bàng xiāng chí , yú wēng dé lì in Mandarin Chinese.
Literally, 鹬蚌相持,渔翁得利 means “a snipe and a clam grapple, a fisherman profits”. It is used to mean “When two parties are engaged in a fierce struggle or dispute”.
鹬蚌相持,渔翁得利 comes from a classical Chinese story dating back to ancient China. The full story is on this page.
比喻双方争执不下,两败俱伤,让第三者占了便宜。