Particle.news
Download on the App Store
17 ARTICLES
·
last yr.

Italy Officially Withdraws from China's Belt and Road Initiative

Despite the withdrawal, Italy intends to maintain good relations with China, citing the lack of significant gains from the BRI as the reason for the decision.

Overview

  • Italy has officially withdrawn from China's Belt and Road Initiative (BRI), becoming the first G7 country to exit the program.
  • The decision was communicated to Beijing three days ago, with Italy's Prime Minister Giorgia Meloni stating that the BRI had brought no significant gains to Italy.
  • Despite the withdrawal, Italy intends to maintain good relations with China, with several high-level visits planned for the near future.
  • The BRI, launched by Chinese President Xi Jinping in 2013, aims to deepen relations with foreign countries through infrastructure investments.
  • Critics see the BRI as a tool for China to spread its geopolitical and economic influence.