Italy to Withdraw from Chinese Belt and Road Initiative, Says Defence Minister
Italy’s Defence Minister, Guido Crosetto, announced that Italy will be leaving the controversial Chinese Belt and Road Initiative. The decision comes as Italy’s government evaluates its options regarding the deal with China. Crosetto emphasized the need to withdraw from the initiative while maintaining good relations with Beijing, as he recognizes China as a competitor and a partner.
Italy was the sole major Western country to join the Belt and Road Initiative, which aims to forge a new Silk Road connecting China with Asia and Europe. However, critics argue that Italy’s involvement in the agreement has not yielded the economic benefits it had hoped for. They point out that Chinese exports to Italy have surged significantly, while Italian exports to China have not experienced a corresponding increase.
Crosetto described Italy’s decision to participate in the initiative under the previous leadership as an “improvised and atrocious act.” Prime Minister Giorgia Meloni, during her visit with President Biden in Washington, expressed that her government is still deliberating the potential move away from the Chinese initiative. Earlier this year, Meloni voiced optimism that Italy could maintain a strong relationship with China without being a part of the Belt and Road Initiative.
Italy’s withdrawal from the Belt and Road Initiative will be determined before December. The government aims to carefully consider its options and the potential consequences of such a withdrawal, ensuring minimal damage to its relationship with China. Italy’s decision may have far-reaching implications not only for its bilateral ties with China but also for its standing within the international community.
Hollywood Crap will continue to monitor and report on the development of Italy’s withdrawal from the Belt and Road Initiative. Stay tuned for updates on Italy’s evolving stance towards China and the potential impact it may have on the global geopolitical landscape.
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