The Asian Development Bank in a Reconnected Asia
Asian Development Bank President Takehiko Nakao discusses infrastructure investment’s impact on inclusive and sustainable economic growth in Asia at the 2017 Global Development Forum.
Development
Emerging and developing markets are competing to attract outside investment and playing an even greater role in the global economy.
150 Items, Page 20 of 30
Russia’s Arctic Dreams
The Arctic has a particular appeal for Russian national consciousness – and is duly prioritized by Russia’s ambitious and unambiguously authoritarian leadership. President Vladimir Putin is personally committed to advancing Russia’s interests in the High North and has recently confirmed his unwavering engagement at the “Arctic – Territory of Dialogue” conference in Arkhangelsk. Richness in natural resources, particularly natural gas and oil, is a key part of this appeal and a major focus of this priority. But Russia’s Arctic dreams will eventually collide with a harsh reality: Arctic reserve estimates and the assessments of their accessibility are seriously exaggerated.
China’s Exaggerated Arctic Interests
The world’s awareness of petroleum resources in the Arctic soared in 2008 after an assessment from the United States Geological Survey indicated that 12.3 percent of global undiscovered oil resources and 32 percent of gas resources could be found there. The analysis was widely misinterpreted to reflect offshore reserves and created the perception of a huge untapped potential that was becoming more accessible because of the ice melt. It resonated strongly in China, which worried about soaring energy needs and over-dependence on the Middle East.
Arctic Opportunities
Last month, Arctic sea ice extent reached a maximum of 5.57 million square miles – a record low. As the Arctic region rapidly transforms due to dramatic climate impacts, new economic opportunities and environmental challenges present themselves across the region. How realistic are these economic opportunities, and what factors will drive or delay future economic development?
Vietnam’s Infrastructure Boom
Quotes and Quotas is a weekly digest of phrases and facts that help explain Asia’s infrastructure push.