The Business of Arctic Development: East Asian Economic Interests in the Far North

The newest set of Arctic promoters come from Asia and their engagement in the region has revitalized interest in Arctic development as well as in the existing governance mechanisms. Canada has been quite passive about East Asia’s commercial interests in the Arctic, an approach that underestimates the constructive, long-term role that China, Japan and Korea can and likely will play in the Far North. This piece argues that the current state of Arctic development is both exaggerated, particularly with regard to oil and gas development and Arctic navigation, and underestimated in terms of the long-term potential of the region.

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