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Is Italy Playing With Fire When It Comes to China?

Posted March 27, 2019

Under Economic Issues, International Trade Issues

(Holly Ellyatt – CNBC)

Italy’s decision to be the first major European economy to join China’s massive investment and infrastructure project, the Belt and Road Initiative (BRI), can only exacerbate tensions between Italy and its neighbors.

On Saturday, President Xi Jinping and the Italian government signed a non-binding agreement for Italy to join China’s trade route and inked a total of 29 deals worth 2.5 billion euros ($2.8 billion) across an array of sectors. Italy hopes the project will boost its sluggish economy but the deal raised more than just eyebrows in Europe and the U.S. with officials criticizing the move.

The BRI is something of a 21st century Silk Road with the sea and land route stretching from Asia, the Middle East, Africa and now into Europe — with Italy being the first Group of Seven (G-7) country to sign up to the global infrastructure and development project. Click here to read more.