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Arctic shipping routes offer significant benefits, but also carry risks. If the Arctic Ocean is to become a new "Mediterranean Sea" - a middle ocean across which the world trades - the world's Asian and Arctic nations will have to work together.
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The Arctic may contain 10-15 percent of the world's undiscovered oil reserves, with most of that oil located in the seabed of the Arctic Ocean. And China, thanks to its financial rather than military strength, could take the lion's share.
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