"Iceland rejects Chinese tycoon’s land proposal" November 26, 2011|By Anna Andersen, Associated Press
REYKJAVIK, Iceland - A Chinese entrepreneur’s bid to create a vast nature retreat in Iceland was turned down by the north Atlantic island nation’s government yesterday, amid concern the deal would have handed a major chunk of territory to a foreign investor....
Iceland’s interior ministry said Iceland’s law on land sales “was considered necessary to limit foreigner’s rights to property in Iceland to protect Iceland’s independence’’ and to ensure that Icelandic people - rather than foreign investors - are able to benefit from the country’s resources.
Finally, a government the entire world deserves. I guess that's why we don't read much about Iceland; that, and the fact that they tossed all their looting bankers into jails (and now their economy is roaring, how 'bout that?).
Some critics of the proposed deal had raised concerns that allowing Huang to purchase the land could give China a strategic toehold in the Arctic Circle, where nations are scrambling to claim natural resources and melting ice caps are expected to open up faster global shipping lanes eventually.
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