10/7/2023 0 Comments China xi open slik road![]() Source: Wishnick, Elizabeth: China’s Interests and Goals in the Arctic: Implications for the United States. According to the estimations, the Transpolar Sea Route is expected to be suitable for transportation only in 2020, and only in the summer months for about 8 weeks. The use of the Northern Sea Route would reduce the transportation from Asia to Europe through the Suez Canal by 10 days, and the transportation on the Panama Canal by 4 days. The melting of the polar ice makes it more probable that these energy sources and precious metals will be available in the near future if the infrastructure and technological background will be ensured for their exploitation. Besides, a considerable amount of precious metal like gold, platina, iron, uranium, lead, zinc and rare earth elements can be found here. This amounts to 13 per cent of the unexplored oil sources, 30 per cent of natural gases and 20 per cent of liquefied natural gas in the world. It is assumed that 90 billion barrels of petroleum, 1669 thousand million cubic feet of natural gas and 44 billion barrels of liquefied natural gas can be found on the North Pole. Geological Survey (USGS), the Arctic, comprising about 6 per cent of the mainland, hides the largest unexplored oil and gas reserves in the world. Efficient transport on the Arctic Ocean is only possible if significant infrastructure investment is realized for the development and establishment of routes, which can mainly be beneficial to the countries of the region. Furthermore, the Arctic Ocean is a connection point among Asia, Europe and North America, and these continents are responsible for 90 per cent of international trade. The Arctic is particularly rich in natural resources, over 20 per cent of the reserves on the Earth can be found here. The developing economy of the countries in the North Pole is mainly based on the infrastructure. As China has a far weaker power position in the region than America or Russia, it will need cooperation and economic investment to enforce its interests. China has been working on building its regional ambitions for several years and released china’s Arctic Policy in early 2018, according to which the country would like to integrate this region into the New Silk Road Project, too. Mostly thanks to this, new trade routes have emerged in the region, which saves energy and time as a considerable security and geopolitical aspect. As an area rich in unexplored resources, the North Pole is fulfilling an increasingly important role in the relations among the great powers.
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