The Quotes are Powered By Forexpros, the Forex, Futures, and Stock Markets Portal.

News Headlines and Feed

Business News Videos

Melting Nordic ice show previously unknown hidden treasure as super powers jockey for position in the area

Wednesday, 19 September 2012

The only people who saw Greenland as a place of importance on the face of the earth were the Danes and the environmentalist who loved the country or island to remain covered with snow to give us the needed balance in our giant ecosystem.

Capitalists before the emergence of China did not know that there could be large wealth buried beneath that ice until it started melting. Therefore as the Arctic ice melting at record pace, the world’s superpowers are increasingly jockeying for political influence and economic position in outposts like this one, previously regarded as barren wastelands, report the New York Times.
<== img: Global images
At stake are the Arctic’s abundant supplies of oil, gas and minerals that are, thanks to climate change, becoming newly accessible along with increasingly navigable polar shipping shortcuts. This year, China has become a far more aggressive player in this frigid field, experts say, provoking alarm among Western powers.

While the United States, Russia and several nations of the European Union have Arctic territory, China has none, and as a result, has been deploying its wealth and diplomatic clout to secure toeholds in the region, the New York Times Continues.
More details about the report could be found here.
By Scancomark.com Team

What do you think about this article? Did you spot an error? Please make a comments and join our network