Playing with fire - 0 views
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The most significant event for Italian foreign policy in 2019 was the signing of a Memorandum of Understanding (MoU) with China endorsing the Belt and Road Initiative (BRI), which marked a break in the ranks of G-7, raising important concerns from Washington that Italy would become an entry point for Chinese influence in Europe. In reality, Chinese investment in Italy’s key industries, including energy and telecommunications, has been growing since 2013.
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Due to Italy’s difficulties in attracting investment because of high taxation and bureaucracy (among other factors), Italy’s decision to sign the MoU on the BRI is an attempt to gain advantages over its European competitors to attract Chinese investment and address longstanding economic stagnation.
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as Italy’s overall political instability and economic weaknesses prevent the development of a clear strategy vis-à-vis China, temporary economic gains can easily backfire
