Italy Withdraws from China's Belt and Road Initiative

Italy has formally withdrawn from China's Belt and Road initiative, marking a significant shift after initially joining in 2019 under the Five Star Movement-led government to bolster trade and infrastructure investments.

Key Points

• PM's Intention and Reported Withdrawal: Italian PM signalled the country's intent to withdraw from the initiative, and reports indicate a formal notice delivered to Beijing recently.
• Unfulfilled Promises and Rising Trade Deficit: Despite the initial goals of boosting trade and infrastructure investments, Italy experienced a mounting trade deficit with China, soaring from 20 billion euros to 48 billion euros over the years. Additionally, the promised investments in Italian ....