Italy Quits China’s Belt and Road Initiative After Broken Promises
Since joining the BRI in 2019, Italy’s exports to China increased by €4 billion while China’s exports to Italy skyrocketed by nearly €20 billion.
Since joining the BRI in 2019, Italy’s exports to China increased by €4 billion while China’s exports to Italy skyrocketed by nearly €20 billion.
Hungary continues to pursue a non-confrontational approach to Russia.
Direct partnerships with China defy Meloni’s Belt and Road exit.
Final declaration no longer mentions Russian “aggression” towards Ukraine.
Relations between China and Italy soured almost as soon as the ink dried on the original 2019 agreement, with officials saying Italy’s exit from the initiative was essential for maintaining good relations with America.
Italy is expected to eventually decouple from China regardless, with the Italian auto-industry slashing production in the face of a global semiconductor shortage.
What is going on in the Mediterranean must be viewed through a much broader lens. Around the world, from southern Africa to South America, China is gaining control of an increasing number of ports.
After the war in Ukraine started, G7 leaders have been fixated on getting oil and gas from anywhere but Russia. This might prove more trying than expected.
It looks like the Chinese are beginning to suffer the consequences of their own central economic planning model.
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