China has formally incorporated the Arctic into its plans for maritime cooperation under the ‘Belt and Road Initiative’(see insert). This new Arctic
silk route as China envisions it, leads up to Europe via the Arctic Ocean. Its 6000 km shorter than the southern route via the Suez canal. Important targets are Iceland as a future hub for cargo vessels along the Arctic route, exploitation of Greenlands
rich minerals such as uranium, and the rich oil and gas reserves in the Arctic ocean, becoming more accessible due to melting polar ice. So now two big countries are eager and ready to exploit the Arctic Ocean, Russia and China. President Putin seems
content with China's 'creative approach'. US foreign minister Mike Pompeo, however, is worried. Not because of the involved risks for the environment (in fact, Mike is happy with the economic perspectives of the melting icecap) but because of Chinas
increasing dominance in the world economy.