Iceland spurns Chinese investor in land deal


Iceland’s economy boomed in the run-up to the global financial crisis that started in 2008. Like the Vikings of yore, Icelandic banks carried off the riches from their neighboring countries. Instead of pillaging, they merely offered high-interest bank accounts. But once the crisis hit, Iceland’s banking sector collapsed, plunging the whole country into dire financial crisis.

This is where Chinese businessman Huang Nubo stepped in. Huang was on track to buy a 300 square kilometer parcel of land, that’s 0.3 percent the total size of Iceland. He had a vision of developing the land into a luxury resort. But Iceland’s government blocked the deal. Some suspect that the Chinese government was behind the purchase somehow and had some nefarious plans.

Huang cried foul, saying that the deal was nixed because of anti-Chinese sentiments and that the west is being hypocritical by calling for China to open up its markets while hampering Chinese investment in their own. Is the rest of the world truly happy to see China as an emerging power?

Whatever the case may be, Chinese buyers are going on a shopping spree around the world as the Great Recession causes asset prices to drop in various European and American countries.

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  • http://profiles.google.com/rrwillsj richard wills

    Aww, comeon. The way to think of this golden opportunity is the Yankee Bastard example.

    For a couple of hundred years now we Americans have been swindling the Brits and other foreign
    suckers {cough, ‘scuseme} “investors”, with the promise of being a safe haven for their surplus
    moneys. Other notable victims of this scam have been the Japanese, South Africans, Arabs, etc;
    pick your boogeyman of the week. We consume your resources and luxury goods and manufacturites
    in exchange for pieces of paper, we insist with our infamous poker face, are money or property titles.

    So, why do they let ol’cousin Jonathan get away with our smugly pretentious con game.
    Because shrewdly, the way the British see it and now the Chinese have caught on, this is
    a valuable insurance policy. You hate to pay for it, but when your back is against the wall and
    your trapped between the Luftwaffe and the U-boats, American business interests can be counted
    upon to unleash The Wrath of God upon your enemies.

    Surrounded by enemies current and potential, while facing several looming internal explosions, the
    Chinese government is making every effort to bind America’s interests with China. They realize
    that being able to draw upon a huge surplus of trained and experience American military will
    be their only chance at salvaging survival out of the consequences of their mis-government.

    Iceland has a lot to offer potential investors. It’s geo-physical position allows the safety of obscurity,
    being off the map of international perception. Iceland is strategically placed as a nexus linking
    North America with Europe and Russia and future development of the Polar region as the ice cap melts.

    First you got get Huang back to the table, cut a deal, load in a lot of obscure legalese into the fine
    print. GET THE MONEY!! Then in leisure, you can nickel & dime him to death with regulations and
    revanchist political nonsense and snobbish bigotry you want. Kind of like a Parisian waiter.
    Did I mention, FIRST get the money?!

  • Martin

    “Huang cried foul,
    saying that the deal was nixed because of anti-Chinese sentiments and
    that the west is being hypocritical by calling for China to open up its
    markets while hampering Chinese investment in their own.”

    Yep.  100% hypocritical.

  • I am he who is “I am”

    keep CCP influence out of Iceland