Italy Withdraws from China’s Belt and Road Project
- Italy has officially withdrawn from China’s ambitious Belt and Road Initiative (BRI) marking a significant departure from its previous stance as the only G7 nation to participate. This move comes more than four years after Italy initially joined the initiative in 2019 under the government of then Prime Minister Giuseppe Conte. The decision was long-anticipated and signals a strategic shift in Italy’s approach to its relationship with China and the broader global geopolitical landscape.
- The Belt and Road Initiative, spearheaded by Chinese President Xi Jinping, aims to enhance China’s influence globally by investing in infrastructure projects across participating countries.
- Italy’s decision to join the BRI in 2019 raised eyebrows, especially among its European Union (EU) and G7 counterparts.
- The Belt and Road Initiative has been a source of contention globally, with Western nations expressing concerns about China’s potential to reshape the global orders to its advantage.
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Published date : 08 Dec 2023 10:25AM