What is the rationale behind Italy's project withdrawal?
What is the rationale behind Italy's project withdrawal?
Italy felt that it needed outside investment for improved infrastructure in order to strengthen its economy, which is why it joined China's Belt and Road Initiative (BRI). Similar to other european nations, italy has experienced three recessions in the previous ten years prior to participating in this initiative. Yet, Italy's ties to the european union were not particularly cordial. italy was compelled to turn to china in order to boost its economy during this time. The Italian government believes that they have not gained much from being a part of the Belt and Road Initiative (BRI) even after it has been linked to them for four years.The Italian government labeled this initiative as a grave error made by the previous administration.Prior to this declaration, Italy's current prime minister, Silvio Berlusconi, had referred to the previous government's choice to link his nation to the Belt and Road Initiative as a grave error. Additionally, she has made it clear in multiple speeches that she intends to back out of this initiative. Let us remind you that Giuseppe Conte was Italy's prime minister at the time the country signed up to the BRI initiative in 2019. georgia Meloni is going to spearhead the formation of a new Italian government in 2022.How will this decision impact the two nations' relationship?It is evident that the Italian government at the time, led by prime minister Meloni, felt that commerce with china would not decrease even if they distanced themselves from this initiative.
Italy felt that it needed outside investment for improved infrastructure in order to strengthen its economy, which is why it joined China's Belt and Road Initiative (BRI). Similar to other european nations, italy has experienced three recessions in the previous ten years prior to participating in this initiative. Yet, Italy's ties to the european union were not particularly cordial. italy was compelled to turn to china in order to boost its economy during this time. The Italian government believes that they have not gained much from being a part of the Belt and Road Initiative (BRI) even after it has been linked to them for four years.The Italian government labeled this initiative as a grave error made by the previous administration.Prior to this declaration, Italy's current prime minister, Silvio Berlusconi, had referred to the previous government's choice to link his nation to the Belt and Road Initiative as a grave error. Additionally, she has made it clear in multiple speeches that she intends to back out of this initiative. Let us remind you that Giuseppe Conte was Italy's prime minister at the time the country signed up to the BRI initiative in 2019. georgia Meloni is going to spearhead the formation of a new Italian government in 2022.How will this decision impact the two nations' relationship?It is evident that the Italian government at the time, led by prime minister Meloni, felt that commerce with china would not decrease even if they distanced themselves from this initiative.