| Summary: | Chapter 7 investigates the incorporation of the China-Arctic Ocean passage into the Belt and Road Initiative offering opportunities in Northern Europe. This project stemmed from Beijing’s Arctic Policy declaring China as a ‘Near Arctic State’. The proclamation has led to COSCO Shipping Group taking advantage of melting ice on the Northern Sea Route to carry bulk commodities and China’s involvement in financing and constructing the Yamal LNG Project at Sabetta. Also China has been engaged in the Northwest Passage and resource developments in Canada, Greenland and Iceland. Reactions have varied from the United States’ adverse response, through Russia’s positive involvement, to Canada’s ambivalent stance. Development Studies, Economics and Finance
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