Breadcrumb Path LinksNewsExpert says U.S. President Donald Trump may simply need to increase for growth’s sake onlyPublished Feb 12, 2025 • Final up to date 3 hours in the past • 7 minute learn You’ll save this newsletter by way of registering totally free right here. Or sign-in you probably have an account.Danish Top Minister Mette Frederiksen has time and again stated that Greenland isn’t on the market to Donald Trump or the U.S., however lately added, “If that is about securing our a part of the arena, we will be able to give you the option ahead.” Photograph by way of EMIL STACH/Ritzau Scanpix/AFP by the use of Getty Pictures filesArticle contentUnited States President Trump continues to boost some other previous flight of fancy from his first tenure within the White Area — the opportunity of buying Greenland.Article contentArticle contentLeaders from Denmark and Greenland (an self reliant territory within the Kingdom of Denmark with self-government and its personal parliament) have time and again asserted that the territory isn’t on the market.However why does Trump need Greenland so badly? Is it even conceivable to buy sovereign territory within the twenty first century, and if that is so, how a lot may it price? Whilst an exact valuation is difficult to calculate, some mavens presented insights into the Arctic island’s price.Commercial 2This commercial has now not loaded but, however your article continues beneath.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to learn the most recent information for your town and throughout Canada.Unique articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman, and others.Day by day content material from Monetary Instances, the arena’s main international industry newsletter.Limitless on-line get right of entry to to learn articles from Monetary Publish, Nationwide Publish and 15 information websites throughout Canada with one account.Nationwide Publish ePaper, an digital reproduction of the print version to view on any tool, proportion and touch upon.Day by day puzzles, together with the New York Instances Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to learn the most recent information for your town and throughout Canada.Unique articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman and others.Day by day content material from Monetary Instances, the arena’s main international industry newsletter.Limitless on-line get right of entry to to learn articles from Monetary Publish, Nationwide Publish and 15 information websites throughout Canada with one account.Nationwide Publish ePaper, an digital reproduction of the print version to view on any tool, proportion and touch upon.Day by day puzzles, together with the New York Instances Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or check in to proceed along with your studying revel in.Get admission to articles from throughout Canada with one account.Percentage your ideas and sign up for the dialog within the feedback.Experience further articles monthly.Get e-mail updates out of your favorite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or check in to proceed along with your studying revel in.Get admission to articles from throughout Canada with one accountShare your ideas and sign up for the dialog within the commentsEnjoy further articles consistent with monthGet e-mail updates out of your favorite authorsSign In or Create an AccountorArticle contentWhy does Trump need to purchase Greenland?Rob Huebert, a political science professor on the College of Calgary, stated he’s scratching his head at Trump’s conceivable motivations for getting Greenland.From an army perspective, Huebert identified that the USA already has an army base at the northwest coast of Greenland, known as Pituffik Area Base. And whilst there’s been hypothesis about offshore oil (Greenland suspended exploration because of the local weather disaster), Huebert feels this nonetheless doesn’t totally provide an explanation for Trump’s fascination.“You sit down there, and also you assume, ‘Is he in reality most effective doing this as a result of he’s were given some warped working out of Manifest Future?’” Huebert stated. “He desires to connect his title to that the similar means other people like Theodore Roosevelt (did) — once more, it nearly turns out like growth for growth’s sake most effective.”Marc Lanteigne, a professor of political science at The Arctic College of Norway, Tromsø, advised Trump is having a look to create “a just right old style nineteenth century buffer zone round American passion,” pointing to the president’s passion in Canada, Gaza and the Panama Canal as neatly.Commercial 3This commercial has now not loaded but, however your article continues beneath.Article content material“It’s very harking back to nineteenth century nice energy behaviour,” Lanteigne stated. “The concept that if you’ll encompass your self with occupied territories, you’ve got a buffer zone towards your enemies.”Lanteigne stated Trump may need Greenland for the prospective price of its important minerals and assets.“It has a substantial amount of uncooked fabrics, the whole lot from oil, gasoline, base metals, treasured metals, uncommon earths,” Lanteigne defined. “Numerous which has been untapped as a result of up till very lately, it was once just too dear and unworkable to arrange mines there — simply as a result of floating ice off the coast and the difficulties concerned with the native local weather this is converting.”Trump has stated that the USA must regulate Greenland to make sure global safety and for the “coverage of the unfastened international,” however Huebert famous that Denmark is a part of the North Atlantic Treaty Group (NATO) and Greenland’s surveillance techniques are tied into the North American Aerospace Protection Command (NORAD) in the course of the Pituffik Area Base.“You’ll’t recall to mind a extra fulsome participation in geopolitical safety than what the Greenlanders and Danes are already doing.”
PosthasteBreaking industry information, incisive perspectives, must-reads and marketplace alerts. Weekdays by way of 9 a.m.Through signing up you consent to obtain the above publication from Postmedia Community Inc.Thank you for signing up!A welcome e-mail is on its means. If you do not see it, please test your junk folder.The following factor of Posthaste will quickly be for your inbox.We encountered a topic signing you up. Please take a look at againArticle contentAdvertisement 4This commercial has now not loaded but, however your article continues beneath.Article contentWhat took place the final time the U.S. attempted to shop for Greenland?In 1946, ahead of the professional onset of the Chilly Conflict, President Harry S. Truman quietly proposed to pay Denmark US$100 million in gold for the northern island after Senator Owen Brewster known as it “an army necessity.”Truman’s advisors coveted Greenland for its geographic merit, since it might assist shield towards Soviet bombers flying over the Arctic Circle to succeed in the usDocuments from the Nationwide Archives additionally display a proposed choice: the U.S. may industry land within the Level Barrow district of Alaska for the parts of Greenland that had been regarded as to carry army price. This plan, had it long gone thru, would have additionally equipped the Danes with rights to any oil found out in Level Barrow, which might then be bought to the USA.Whilst Denmark in the long run declined the be offering, the 2 international locations established a defence treaty in 1951 to construct Thule Air Base (since renamed Pituffik), displacing Thule’s indigenous Inughuit neighborhood within the procedure.3 many years previous to that, the USA bought the Virgin Islands for US$25 million in gold from Denmark because of fears that the German authorities may annex Denmark and use the islands as a naval base all the way through the First International Conflict.Commercial 5This commercial has now not loaded but, however your article continues beneath.Article contentSecretary of State Robert Lansing reportedly advised that if Denmark was once unwilling to promote, the U.S. may forcibly occupy the islands to forestall its seizure by way of Germany.
How a lot may Greenland price as of late?Hanging a buck price on a territory with its personal financial system, authorities and assets isn’t a very easy estimation, however some mavens counsel the usage of ancient land offers as a reference.David Barker, an actual property developer and previous economist on the New York Fed, informed The New York Instances that Greenland might be price anyplace between US$12.5 billion and US$77 billion, in accordance with some tough math.Barker used the Virgin Islands and Alaska purchases as comparability issues (the U.S. purchased Alaska for US$7.2 million in 1867).Barker adjusted those purchases in accordance with the alternate in GDP for the U.S. or Denmark, to account for inflation and financial expansion. So, for the decrease finish of the valuation, he adjusted the acquisition value of the Virgin Islands for the expansion in Denmark’s GDP since 1917. For the upper finish, he adjusted the Alaska acquire value for the expansion in U.S. GDP since 1867. Commercial 6This commercial has now not loaded but, however your article continues beneath.Article contentOne of the latest geopolitical land offers took place in 2017, when Egypt ceded sovereignty of the most commonly uninhabited islands of Tiran (80 sq. kilometres) and Sanafir (33 sq. kilometres) to Saudi Arabia. Arab Heart Washington DC reported that the debatable switch adopted the just about US$22 billion in financial, monetary, and oil assist Saudi Arabia pledged to Egypt, main some analysts to invest the land switch can have been a part of the deal.It took some other six years for Saudi Arabia so as to add the islands to its maps, with some stories suggesting Egypt was once stalling the switch.Greenland, the arena’s biggest island, is after all, a lot more expansive at 2.166 million sq. kilometres and residential to greater than 56,000 other people. And Lanteigne stated it’s tough to even estimate Greenland’s geological price, particularly with mineral surveys nonetheless ongoing — even though some estimates peg its herbal useful resource wealth within the tens of billions of bucks.May just Trump nonetheless strike a deal?Lanteigne stated Trump’s be offering to shop for Greenland from Denmark (once more) displays his ignorance of the native scenario in Greenland, the connection between Denmark and Greenland and the problem of colonialism.Commercial 7This commercial has now not loaded but, however your article continues beneath.Article contentLanteigne pointed to the Self-Govt Act, which was once signed with Denmark in 2009, making certain Greenland the precise to self resolution. Hypothetically, if Trump had been to barter for Greenland, he would want to negotiate with Nuuk, Greenland’s capital and seat of presidency.“We’re long gone the duration of colonialism, when it’s worthwhile to purchase and promote and trade in that context,” agreed Huebert, who doesn’t see any conceivable situation through which Greenland might be purchased.“I feel a extra real looking situation can be … the American citizens get started running on seeking to sway the preferred opinion inside of Greenland to transport for independence,” Huebert advised. “In different phrases, perhaps the American citizens would get extra regulate over a sympathetic authorities chief.”A contemporary opinion ballot commissioned by way of the Danish newspaper Berlingske and Greenlandic day-to-day Sermitsiaq published that 85 consistent with cent of Greenlanders don’t need their island to change into part of the USA, with just about part pronouncing they see President Trump’s passion as a danger.Danish Top Minister Mette Frederiksen has time and again stated that Greenland isn’t on the market, however lately added, “If that is about securing our a part of the arena, we will be able to give you the option ahead.”Commercial 8This commercial has now not loaded but, however your article continues beneath.Article contentGreenland Top Minister Mute Egede has additionally stated the usage of the territory’s land was once “Greenland’s industry,” however expressed willingness to paintings extra carefully with the U.S. on defence and mining.Lanteigne stated that Greenland’s plans for independence imply it wishes to significantly diversify its financial system, noting that it essentially relies on the seafood, tourism and services and products industries, in addition to an annual stipend from Copenhagen.The problem with mining in Greenland is the amount of cash and subject material had to arrange even a unmarried mine, he added, given its isolation and the truth that it’s surrounded by way of ice. He stated it might take two decades for a mining operation to change into successful — a conservative estimate.Advisable from Editorial 
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Trump-fuelled industry fiascos are failing to swamp the markets In a January opinion piece for The Washington Publish, Naaja H. Nathanielsen, minister of commercial, industry, mineral assets, justice and gender equality within the authorities of Greenland, wrote that whilst Greenland didn’t need to be a part of the U.S., it’s open to forming a industry deal that might receive advantages each economies.Commercial 9This commercial has now not loaded but, however your article continues beneath.Article contentNathanielsen famous that Greenland possesses 39 of the 50 minerals the U.S. considers important to nationwide safety and financial balance, reminiscent of zinc and nickel, and known as for personal traders to devote capital to develop Greenland’s mining operations. “Greenland has top hopes of signing a brand new settlement with the USA once conceivable,” she wrote, including that the U.S. lately holds only one mining license within the territory. “There are current, upcoming and as but unknown probabilities to be had for investments.”• E-mail: slouis@postmedia.comBookmark our website online and beef up our journalism: Don’t pass over the industry information you want to understand — upload financialpost.com in your bookmarks and join our newsletters right here.Article contentShare this newsletter for your social community
