Treasure Hidden Beneath the Ice: The Real Reason the U.S. Covets Greenland; U.S., China, and Russia Collide in the Arctic as Peace Ends and a Global Arms-Buying Spree Begins | JoongAng Ilbo Reporter Lee Cheol-jae

Summary

Lee Cheol-jae, senior defense reporter at JoongAng Ilbo, explains why the U.S. is pressuring Denmark over Greenland. He frames Greenland as a strategic asset for missile defense, Arctic shipping routes, and rare-earth resources, while arguing that great-power competition and the end of the post-Cold War peace dividend will keep global defense budgets rising. The discussion also covers Denmark's treaty constraints, Greenlanders' preference for independence, and the supply-chain importance of neodymium.

• U.S. interest in Greenland centers on Arctic security, missile early warning, and control of emerging polar shipping routes.
• Greenland also matters for heavy rare earths, especially neodymium used in magnets, motors, robotics, and defense systems.
• China's rare-earth restrictions and F-35 production disruptions illustrate supply-chain vulnerability.
• Denmark's 1951 defense treaty and local sovereignty sensitivities make outright annexation unlikely, though negotiations are expected.
• The post-Cold War peace dividend is over; Russia-Ukraine and U.S.-China-Russia competition are driving rearmament.
• Global military spending reached a record $2.7 trillion in 2024 and is expected to keep rising, with the U.S. accounting for about half.
• The speaker sees investment implications mainly in defense spending and strategic rare-earth supply chains.