It was reported on Thursday that, after its decision to endorse China’s Belt and Road Initiative (BRI), Italy is looking at borrowing from the China-led Asian Infrastructure Investment Bank (AIIB).
The move is controversial not just among Italy’s fellow Group of Seven and European Union member countries, but also domestically, within Rome.
But as European economies slow (Italy’s more than others’), the necessity of joining China’s international infrastructure push is poised to outweigh fears of it being a “Trojan horse” of Beijing’s influence.
“Now I think with the EU economy, particularly Italy, has been slowing down, so I think economic alliance with China would be really great for the local economy and the local politics,” Wang Huiyao, the founder and president of the Beijing-based Center for China and Globalization, told Asia Times.
He added that if Italy endorses of the initiative, which is expected to happen officially during a state visit by Chinese President Xi Jinping to Rome next week, it would “break the ice.”
“Just like AIIB where the first to sign on was the UK and then 97 members [joined) that.”
The United States had initially pressured allies in Europe and Asia not to join the infrastructure investment bank. It didn’t work, and after Britain’s decision to join the AIIB, other major allies of the US followed suit.
Wang also noted that Japan and France have signed agreements with China in tacit support of the BRI, despite reluctance to formally sign on to the effort in name.
“Other countries have already signed something similar. Japan, China signed a third-country memorandum. And France has that.… It’s all Belt and Road countries. They are just shying away from saying the word Belt and Road,” he said.
“The potential involvement of the AIIB in the BRI in Italy is a game changer,” one EU diplomat in Brussels said, according to the Financial Times. “Without the AIIB’s involvement in lending to projects, it would be difficult for the BRI to fly in a key EU member state.”
Prime Minister Giuseppe Conte said on Friday that the memorandum on the BRI “will be signed,” but stressed that it was “non-binding.”
Pretty section of content. I just stumbled upon your web
site and in accession capital to assert that I acquire actually enjoyed account your blog posts.
Any way I’ll be subscribing to your augment and even I achievement you
access consistently quickly.
I don’t even know how I ended up here, but I thought this post was good.
I don’t know who you are but definitely you’re going to a famous blogger if you are
not already 😉 Cheers!
Hello there! Do you use Twitter? I’d like to follow you if that would be okay.
I’m undoubtedly enjoying your blog and look forward to new
Outstanding post however I was wondering if you could write a litte more on this subject?
I’d be very thankful if you could elaborate a
little bit more. Cheers!
Hello, I enjoy reading all of your article post.
I like to write a little comment to support you.
I think the admin of this web site is really working hard for
his site, because here every stuff is quality based material.
Hello, I do think your web site could possibly be having internet browser compatibility problems.
Whenever I look at your blog in Safari, it looks fine however, when opening in Internet Explorer,
it has some overlapping issues. I simply wanted to provide
you with a quick heads up! Other than that, wonderful
Write more, thats all I have to say. Literally, it seems as
though you relied on the video to make your point. You clearly
know what youre talking about, why waste your intelligence on just posting
videos to your site when you could be giving us something informative to read?
I’m gone to tell my little brother, that he should also pay a visit this blog on regular basis to take updated from most up-to-date news.
I love what you guys are up too. This kind of clever work and reporting!
Keep up the terrific works guys I’ve included you guys to blogroll.
Magnificent site. Lots of useful information here. I’m sending it to some friends ans also sharing in delicious. And of course, thanks for your effort!
Wow, this paragraph is pleasant, my sister is analyzing such things, thus I
am going to let know her. natalielise plenty of fish
Thanks for ones marvelous posting! I seriously enjoyed reading it, you could be a great author.I will
make certain to bookmark your blog and will often come back later in life.
I want to encourage one to continue your great writing,
have a nice weekend!
I like it when people come together and share views.
Great website, keep it up!
I value the blog.Much thanks again. Really Great.
Hi, i think that i noticed you visited my website so i got here to return the favor?.I’m trying to in finding issues to
enhance my web site!I assume its good enough to use a few
of your concepts!!
Hello There. I discovered your blog the usage of msn. This
is an extremely smartly written article. I’ll be sure to bookmark
it and return to learn extra of your useful information. Thank
you for the post. I will definitely comeback.
Hi there, I enjoy reading all of your article. I wanted to write a
little comment to support you.
Can I simply say what a relief to discover somebody that genuinely knows what they’re discussing on the net.
You actually understand how to bring a problem to light and make it important.
More people should check this out and understand
this side of the story. I was surprised you’re not more
popular because you certainly have the gift.
Way cool! Some very valid points! I appreciate you
writing this write-up and the rest of the site is also very good.
Excellent post. I used to be checking continuously this weblog and I am impressed!
Extremely useful information particularly the last section :
) I maintain such information a lot. I was looking for this certain information for a very long time.
Thanks and best of luck.
Thanks for finally talking about >Italian BRI decision echoes UK move on AIIB – Asia
Times <Liked it!
You are so interesting! I do not think I have read something like that before. So great to find somebody with a few original thoughts on this issue. Seriously.. thank you for starting this up. This site is something that is required on the web, someone with a bit of originality!
I am really inspired with your writing abilities as smartly as with
the structure in your weblog. Is this a paid subject
matter or did you modify it your self? Anyway
keep up the nice high quality writing, it’s rare to peer a nice
blog like this one these days..
Everything is very open with a clear clarification of
the challenges. It was really informative. Your site is very useful.
Many thanks for sharing!
Hi there! I just wanted to ask if you ever have
any trouble with hackers? My last blog (wordpress) was hacked and I ended up losing many months
of hard work due to no data backup. Do you have any methods to prevent
Leave a comment