Iceland’s president welcomes Chinese interest

In September 2011 Iceland’s President Ólafur Ragnar Grímsson hailed growing Indian and Chinese investment as a sign of the country’s blossoming ties with the rising Asian powers, while alleging that Europe and the US abandoned their north Atlantic neighbour in the wake of its devastating financial crisis three years ago.

Some Icelandic politicians and business leaders are concerned the projects could be a cover for China’s strategic interest in the country as global warming opens up the nearby Arctic to oil exploration and shipping.

ESO: Background information: Could Iceland be a model for debt-ridden Europe? http://www.europeansources.info/record/could-iceland-be-a-model-for-debt-ridden-europe/

Deutsche Welle, 3.9.11: Chinese billionaire's Icelandic wildlife resort faces chilly reception http://www.dw-world.de/dw/article/0,,15361701,00.html

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