The Polar Silk Road and its impacts on economic security of China

In January 2018, People's Republic of China (hereinafter referred to as "China") State Council Information Office released a White Paper titled, "China's Arctic Policy" (See Appendix 1). In the Arctic White Paper, China formally announced itself as a 'Near-Arctic State' and explained its aims in the Arctic. The Arctic White Paper introduced the 'Polar Silk Road' concept, which refers to China's ambitious plans to develop shipping lanes through the Arctic that would reduce shipping times and costs for trade between Asia and Europe. This would likely positively affect China's economic security by providing a faster and more reliable trade route, potentially reducing their dependence on the more congested and politically unstable shipping lanes through the South China Sea and the Suez Canal. The Arctic White Paper also indicated that China is not only aiming to leverage the shorter passage to Europe by the Polar Silk Road but also to do scientific research, explore natural resources, and implement governance in the Arctic region. This thesis concludes that although leveraging the Polar Silk Road will have significant positive effects on Chinese economic security; it will also present some serious risks such as governance issues in the Arctic, and international power conflict which may lead to political backlash and economic sanctions. Each of the advantages and risks has been examined and evaluated from the Copenhagen School perspective with an aim to predict how leveraging the 'Polar Silk Road' will impact the economic security of China. Keywords: Polar Silk Road, Economic Security, Copenhagen School, Arctic.