Reported 12 months ago
In order to prevent China's strategic expansion and infiltration, the Norwegian government announced on July 1st the cancellation of the planned sale of the last private land in the Arctic Circle on the Svalbard Islands. The potential Chinese buyer's acquisition interest raised concerns as it could disrupt regional stability and threaten Norway's interests. China's attempt at securing interests in the Arctic and the South Pacific has intensified competition in the region, with infrastructure projects in Vanuatu and Solomon Islands reflecting the strategic importance of these island nations in the power struggle between China and the West.
Source: YAHOO