Rome is about to withdraw from China’s “Belt and Road” initiative. The loss of Italy, a G7 country, would be a heavy blow for China. It is likely that the US is behind the turnaround.
Giorgia Meloni is considering a 180 degree U-turn in Italy’s course in China, which Beijing is likely to reject. The right-wing prime minister apparently wants to leave China’s New Silk Road (“Belt and Road”) and does not want to renew a billion-dollar infrastructure program concluded under the CP regime in Beijing in 2019. The right-wing politician Kevin McCarthy, speaker of the US House of Representatives, promised as much, according to Italian and international media reports. The Republican visited Meloni in Rome last week. So he again suggested that she finally take a stand in the geopolitical competition between China and the US.
Meloni is keeping a low profile about her plans. Observers expect confirmation next week, on the occasion of the G7 summit in Hiroshima, Japan. Because the decision is economically and politically explosive: Chinese countermeasures are expected, which would initially drive Italian companies to China. Because Italy’s exit from the Silk Road would be a serious setback for the CP regime’s efforts to gain influence in Europe. The fact that Beijing signed a memorandum with Italy as the only G7 country was a great success. And it caused an uproar internationally: for critics, the Chinese infrastructure offensive is a “Trojan horse” with which Beijing is implementing its own interests in Europe.