click for Part III of ginormous article
Source: Bloomberg
Huge piece from Bloomberg on how a melting Artic changes everything:
As the Arctic Circle’s ice melts away, people of the High North feel their top-of-the-world economy heating up. Gold mines, roads and a full spectrum of energy projects dot the horizon—with Russia leading the way and other Arctic countries scrambling to catch up. There’s much to do, and not enough capital to go around. That means countries with deep pockets, deep ambition and no Arctic coastline—namely China—can get a seat at the table, too.
Investing at the top of the world isn’t easy. The remoteness of the region, and a lack of basic infrastructure means the Arctic is simply not wired into the rest of the global trade system. Arctic financial data are scarce. But the global asset manager Guggenheim Partners has shed some light on what’s likely to come next in the Arctic. They’ve spent the last seven years studying the region and the last three amassing a database of 900 planned, in-process, finished, cancelled and desired Arctic infrastructure projects.
