- Italy is planning to officially announce its support this month for China’s Belt and Road Initiative, the Financial Times says, citing comments from Michele Geraci, undersecretary in the economic development ministry.
- “We want to make sure that ‘Made in Italy’ products can have more success in terms of export volume to China, which is the fastest-growing market in the world,” Geraci was quoted as saying.
- Chinese President Xi Jinping’s regional infrastructure investment program is widely seen as Beijing’s attempt to expand its influence globally through the construction of a network of land and maritime routes across Asia, the Middle East, Africa and Europe.
Italy is planning to officially announce its support for China‘s Belt and Road Initiative this month, the Financial Times reported Wednesday. It would be the first endorsement by a G-7 nation, the report pointed out.
Chinese President Xi Jinping‘s regional infrastructure investment program is widely seen as Beijing’s attempt to expand its influence globally through the construction of a network of land and maritime routes across Asia, the Middle East, Africa and Europe.
Critics say that through the project, China forces developing nations to take on high debt burdens while benefiting Chinese companies which are often state-owned.
[Read more here.]