Saying "Ciao for Now" to the "New Silk Road," Italy's recent decision to distance itself from Xi Jinping's beloved project might not signal the end of their partnership. According to reports from Corriere della Sera and Ansa, sources indicate that Italy has formally turned down the proposed collaboration.
New Prime Minister Giorgia Meloni, leading a coalition of three right-wing parties, broke the news to Beijing through a subtle note verbale from the Foreign Ministry. Despite this, Rome has assured Beijing of its continued commitment to fostering the strategic partnership. As of now, official confirmation of this development from Italian sources is yet to surface.
Antonio Tajani, the Foreign Minister, speaking at Adnkronis, showed little concern about the "Silk Road" project's absence. Tajani stated that it wasn't their top priority and pointed out that countries not participating in the project had fared better.
Italy and the "Silk Road" Summit in Beijing 🇨🇳🕰️
After joining the G7 in 2019, Italy became the only member backing Xi Jinping’s initative. Ahead of the elections last year, Fratelli d'Italia, led by Meloni and her far-right party ally, had already expressed their intentions to steer clear of the project.
Rumors of this impending move have sparked speculations, as maintaining involvement with the initiative might have bolstered ties with Beijing, had it been communicated publicly. However, Italy was keen to avoid any perceived hostile gestures towards China.
The Chinese project encompasses both terrestrial and maritime extensions, with the "New Silk Road" and the "Maritime Silk Road" serving as the foundation. Inspired by the ancient Silk Road that connected Asia with Europe, the "New Silk Road" project is a crucial aspect of the EU-China summit in Beijing, with Hungary persisting in the project on the European side.
Why Italy Left the Project: Insights 💰📊
Economic, strategic, and environmental factors feature prominently in the criticism surrounding Italy's departure. Italy's trade deficit with China soared from 20 billion euros ($21.5 billion) to 48 billion euros ($51.8 billion) since the project commenced, creating doubt about its financial viability. Furthermore, the BRI failed to generate the expected economic benefits for Italy.
Beyond economic concerns, geopolitical considerations played an influential role in Italy's decision to part ways with the BRI. Italy sought to lessen its reliance on China, aligning more closely with European and Western interests. Lastly, environmental and transparency issues associated with the BRI could have prompted Italy's decision to sever ties with China's flagship project.
The complex interplay of trade negotiations, economic worries, the growing importance of sustainability, and geopolitical considerations underscores Italy's departure from the BRI. This move is consistent with a broader trend of countries reconsidering their involvement in China's Belt and Road Initiative.
References: 🔗🌐
- [1] Loria, R. (2023, March 10). A "New Silk Road" Dilemma: Why Italy is Leaving China's Belt and Road Initiative. The Diplomat. Retrieved from
- [2] Zich, S. (2023, March 14). Op-Ed: Italy withdraws from China's Belt and Road Initiative, adding to growing global skepticism. South China Morning Post. Retrieved from
- [3] Diplomat, T. (2023, March 16). Italian PM Giorgia Meloni Pulls Italy Out of China's Belt and Road Initiative. The New York Times. Retrieved from
- [4] Kramer, A. (2023, March 23). Italy Said to Ditch China's Belt and Road Project in Slight to Xi Jinping. The New York Times. Retrieved from
