Geoeconomic Aspects of Arctic Exploration

Abstract

The aim of this study is to testify the hypothesis on the transitive nature of the current geo-economic confrontation in the Arctic and to identify the specific features of geo-economic rivalry in the Arctic. The research methods are: a combination of historical and logical approaches, analysis and synthesis, a systems approach, comparative analysis, and a geo-economic approach. The case of the Arctic presented in the chapter identifies that the geo-economics of the twenty-first century, along with the control of resources and space as before, is strongly seeking the control of innovation, technology, entrepreneurship, and innovative skills. The current geo-economic situation shows that the significance of the Arctic Region and the severity of competition between its main geo-economic actors for world trade waterway priority and natural resource extraction increases dramatically. The authors argue the fact that two powerful geo-economic blocs are being formed in the Arctic: the United States and its western allies on the one hand, and Russia and China on the other. The research leads to the conclusion that the permanent growth of geo-economic influence of China inevitably takes place in the Arctic zone. Among geo-economic participants of the second level, the energy and mineral Russian multinationals are emphasized, whose active participation in Arctic waterways and resources exploration enhance the growing scale of Russian geo-economic operations and its overall impact in the region.