Washington. America’s new President-elect Donald Trump has raised the issue of purchasing Greenland. But the biggest question is how much it will cost America to buy Greenland. This question is as complex as the geopolitical importance of the world’s largest island. If we look at historical examples, in 1946, US President Harry Truman had proposed to buy Greenland for 100 million dollars. Which is equivalent to approximately 1.3 billion dollars today. However, its valuation today is much higher, reflecting the island’s strategic location, untapped resources and growing importance in the Arctic.
Economists and experts have presented speculative estimates ranging from hundreds of billions to trillions of dollars. Greenland could be worth $1.1 trillion due to its rare earth minerals and resource potential. Further calculations include the cost of developing Greenland’s economy and infrastructure. Integrating the region will require the US to invest heavily in mining, energy, and social services. This could bring the price to $1.5 trillion or more, making it one of the most expensive acquisitions in history.
Compensation to the people of Greenland!
There is also the question of compensation for Greenland’s 57,000 residents. Who will likely demand a say in any transfer of sovereignty. It is proposed to offer direct payments to residents. Which can range from 100,000 to 10 lakh dollars per person. This may increase the total cost by 5.7 billion to 57 billion dollars. However, financial costs are only part of the equation.
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Many obstacles to achieving Greenland
Any attempt to acquire Greenland would have to overcome international law, treaties and significant diplomatic hurdles. The leaders of Denmark and Greenland have consistently rejected the idea of a sale. Any US effort to force the issue would likely damage its relations with key allies, including NATO partners. For this, steps will have to be taken very carefully and cautiously.
Tags: America News, Donald Trump
FIRST PUBLISHED: January 8, 2025, 23:35 IST
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