China’s ambitions to take a more significant role in the Arctic will likely lead to growing tensions, according to risk consultancy firm Control Risks.
China has developed a “prominent presence” in the region since joining the Arctic Council as an observer in 2013, Oksana Antonenko, director at Control Risks, told CNBC’s “Squawk Box Asia.”
The Arctic Council is made up of eight Arctic States — Canada, Denmark, Finland, Iceland, Norway, Russia, Sweden and the United States.
It is an intergovernmental group that seeks to promote cooperation among the Arctic states as well as inhabitants of the Arctic. Their goal is to ensure the Arctic region, which faces harsh climates and extreme weather conditions, is protected and sustainably developed.
In 2018, Beijing announced plans to build the “Polar Silk Road” — a network of Arctic shipping routes. It has also previously referred to itself as a “near-Arctic state,” a proposition that ignited some controversy.
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