war situation because of china
Italy felt that BRI could prove to be a big advantage for it and nothing of the sort happened. Even after four years, the position of Italy is not clear in this project. Recently Italian Prime Minister Giorgia Meloni and the rest of the G7 group of leaders are scheduled to meet in Japan later this month. Four years after signing on for this massive project, Meloni doesn’t know where his country stands in the partnership. Italy signed this agreement at a time when the rivalry between the US and China was increasing rapidly. Some people started believing that after this project of China, a block is being formed in Europe. Because of Italy’s decision, its relations with China had created a war situation in the European Union.
Hosted by BRI members
China is set to host the BRI participants later this year. But it is believed that Italy may withdraw from the project even before this. According to experts, if Italy accepts the European Union’s approach to China and decides to opt out of BRI, then it will be a big blow to China. Apart from a major diplomatic setback, he may also have to face economic downfall. In September 2022, Meloni took over the responsibility of Italy as PM.
Since his election, reports of a possible return to Italy have started surfacing. Meloni said before the election that signing the BRI in 2019 was a ‘big mistake’ for Italy. Meloni has always been critical of the BRI. In the year 2021, he said that Italy’s foreign policy needs to be ‘European and Atlanticist’.
slap on china’s face
Professor Wang Yiwei of Renmin University, an expert on European affairs, said that China attaches great importance to Italy’s participation. But now Italy wants to get out of it. This is really a slap on the face of China. Even after signing the BRI, there has been little investment for Italy. BRI investments in Italy declined from US$2.51 billion in 2019 to US$810 million in 2020, according to data from Fudan University’s Green Finance and Development Center. Finland, Germany, Britain, France and the Netherlands are among the European countries that are not included in the BRI but have received the highest number of Chinese investments between 2019 and 2021.