Al Jazeera Reports On Devastating Implications Of Chinese Tycoon’s Purchase Of 0.3% Of Iceland

by • September 3, 2011 • Nature, Politics, Random NewsComments (0)1980

Huang Nubo is a Chinese adventurer, business tycoon, and former government official of China’s Communist Party, and he’s ruffling a lot of feathers not only in Iceland, but around the world.  He’s proposing to buy a gargantuan portion of northern Iceland to develop it into an eco-tourism hotspot.  For the bargain basement price of $8.8 million (seriously Iceland?  I mean how STUPID are you?!)  the Icelandic government is set to approve the deal which would give Nubo 0.3% of Iceland.  Watchdogs and industrialists around the world are deeply concerned that this is all part of some sinister plan for the Chinese government to get a stronghold in the incredibly lucrative and untapped energy resources that are opening up in the region due to climate change.  Could the Chinese government be seeking access to a deep water port 50 kilometres from the site, or water from a glacier runoff?  To learn more about the deal that has insiders around the world fuming, be sure to visit CTV News as well as the SF Examiner.   You can also watch this report below by Al Jazeera.  And to get a better understanding of how Iceland’s economy collapsed in late 2008 check out the clip below from the Oscar-winning documentary Inside Job.

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