Who Was ‘Bigg Boss 13’ Fame Shefali Jariwala?
China’s Belt And Road Initiative
Defence Minister of Italy, Guido Crosetto recently in a statement expressed that Italy is not gaining much from China’s Belt and Road initiative (BRI). He explained that the initiative has done only a little to grow Italy’s exports to China. On the contrary, China has made all the profits with this initiative. The decision to join the (new) Silk Road, according to Mr. Crosetto, was “an improvised and atrocious act” that enhanced Chinese exports to Italy without having a similar impact on Italian exports to China.
Italy joined the BRI in 2019 as the first developed economy, which was challenged by its Western friends. Through the reconstruction of the former Silk Road trade route, the global investment initiative hopes to link China with Europe and other continents.
In order to get Chinese goods to international markets faster, China participates in it by supporting significant infrastructure projects all over the world.
It’s been criticised for being a weapon of Chinese influence-peddling. When Italy agreed to join the programme four years ago, the EU and the US both raised their concerns.
Also Read: 35 Killed, More Than 100 Wounded In Bomb Blast At Pakistan’s Northwest Bajur
Also Read: Following An Emergency Sea Landing, Tourist Plane Sinks Off The Coast Of France
Mr. Crosetto claimed that Italy must now figure out a way to exit the agreement without harming its relations with Beijing. “The issue today is: how to walk back (from the BRI) without damaging relations (with Beijing). Because it is true that China is a competitor, but it is also a partner,” Mr Crosetto said. He said Italy would have to consider how to exit “without producing disasters” as Beijing has grown more forceful on the international stage.
Since May, when Prime Minister, Giorgia Meloni stated she wanted talks with China about possibly leaving the BRI, there has been heated debate over whether Italy should stay in the BRI. Unless Italy formally requests to leave it by December of this year, it will automatically renew in March 2024.
Gautam Adani, Chairman of the Adani Group, visited Puri in Odisha during the annual Rath…
Acharya Pramod Krishnam, stirred political debate by claiming an 'internal emergency' still exists within the…
Taking a crucial step toward positive transformation, social reform, and global peace, the Muslim Rashtriya…
India has been chosen to host the prestigious 2029 World Police and Fire Games in…
Gautam Adani, along with his wife and Karan, participated in the Rath Yatra in Puri,…
PM Narendra Modi interacted with Group Captain Shubhanshu Shukla, the first Indian to reach the…