WORLD
Italy To Withdraw From China’s Influence-Boosting Global Infrastructure Project
DAILY CALLER NEWS FOUNDATION
Jake Smith
Contributor
December 06, 2023 1:47 PM ET
Italy is withdrawing from a major Chinese global project, potentially upsetting Beijing, Bloomberg reported on Wednesday.
Italian Prime Minister Giorgia Meloni told Beijing that Italy is pulling out of China’s Belt and Road Initiative, citing concerns that it has been ineffective, according to Bloomberg. Economic ties between Italy and China have been strained and the latest move to pull out of the Belt and Road is likely to make that relationship worse, as Beijing warned that doing so would have consequences. (RELATED: Investors Pull Out Record Funds From China As Economy Falters)
China’s Belt and Road Initiative, spearheaded by Chinese President Xi Jinping, is a multi-trillion dollar infrastructure project network connecting over 140 countries in the eastern hemisphere, according to the Silk Road Initiative. Foreign Minister Antonio Tajani said on Wednesday that Italy is pulling out of the project because it “has not produced the desired effects” and is no longer “a priority,” noting that countries that aren’t part of the project “have had better results,” according to Bloomberg.
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READ MORE: https://dailycaller.com/2023/12/06/italy-to-withdraw-from-chinas-influence-boosting-global-infrastructure-project/
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