Receding polar ice is giving way to shipping passage through the Arctic Ocean, and China may be eyeing the area for economic and military conquest. China announced its plan for a Polar Silk Road in January, wherein it will encourage shipping through the arctic region and develop infrastructure, similar to its One Belt One Road (OBOR, also known as Belt and Road) initiative.
China has used the OBOR initiative as debt trap diplomacy, investing heavily into poorer areas to create debts that can not be repaid financially, and instead traded for equity. This way China acquires strategic places, like a port in Sri Lanka. Kenya has also accepted these offers, causing concern among locals, and Malaysia has backed away from similar Chinese investment.
