ENHANCING ECONOMIC SECURITY OF CHINA THOROUGH THE STRATEGIC COOPERATION IN THE ARCTIC: THE POLAR SILK ROAD INITIATIVE

Global warming is profoundly affecting the world's nature. As the population grows, so its dramatic impact increases. The increase of greenhouse gases in the atmosphere is the leading cause of melting icebergs in the Arctic region; on the other hand, it paves the way for maritime transportation without using the ice-cutters. Today's economic giant China is sending its products to the European markets via Suez Canal. However, if the Arctic route provides an opportunity, shipping time will fall by nearly a third. Usage of the new path will have increased the export of more Chinese goods from China. So, it would positively influence its economy in the future. Aware of this fact, Xi Jinping wants to work with regional states such as Russia by allocating a considerable amount of funding in opening a new Arctic passage as an alternative to the southern route. This study tries to explain the potential transit situation of the Arctic and its impact on China’s economy by the transportation of goods to Europe and North America.