With its vast reserves of strategic resources such as rare earth elements, uranium and oil, and its strategic location, Greenland occupies a prominent place in international geopolitical and economic dynamics, attracting the interest of major powers and international investors. However, these matters regarding Greenland are not new; this is a case that dates back to the 19th century when the US tried to get Greenland from Denmark. The case resurfaced after it attracted the attention of Donald Trump, who publicly expressed his desire to buy the island in 2019. It is a proposal that has caused international controversy and has again become the topic of Trump’s new mandate.
Despite the abundance of important raw materials for economic growth, the country continues to prioritize maritime economic activities. To give an idea of the weight of exports in the trade balance, fish and crustacean exports account for more than 60%, with the main destinations being Denmark (accounting for more than 49% of exports) and China (accounting for more than 23% of exports).
The importance of the island in contemporary geopolitics
Greenland has a little over 55,000 inhabitants and there is already an American military base on its territory. The US practically guarantees the entire defense of the territory, even though bureaucratically the defense of the island should be ensured by the Kingdom of Denmark. Greenland’s geostrategic location makes it attractive to the Trump administration, as it is the largest island in the world and serves as a link between Europe and America. Thus, in a global military situation, this territory would be important for the US and Canada to secure their coasts. History has shown us that during the Cold War this base served as a strategic point against the Soviet Union.
On the other hand, the country is rich in raw materials such as rare earth elements, uranium, metals such as zinc, copper, nickel and oil, which are essential for global economic growth. In addition, the melting of the Arctic could make it easier to extract these raw materials in a region where it is now very expensive or even impossible.
Regarding the location of the island (and the melting of the glaciers) – it could open one of the most important sea routes, which would significantly shorten the distance between Europe and Asia.
The opening picture source: Barni1 (pixabay.com)
Source: www.nextech.sk
