Despite warnings from the United States on how it would likely damage its international standing, Italy is reportedly still going ahead with its plans to cooperate with China's Belt and Road Initiative. Italy's Prime Minister, Giuseppe Conte, announced that the country is willing to cooperate with China by giving it access to the port of Trieste. The country is also reportedly planning to collaborate on a number of projects in various sectors.
Italy's prime minister has overruled previously decisions made by its foreign ministry and has gone ahead with measures to further cooperate with China's ambitious initiative. Chinese President Xi Jinping is already scheduled to visit Italy around the end of the month. The meeting is reportedly the start of negotiations for a framework deal between both countries.
In a public statement, Conte explained that he had already taken all the necessary precautions before he made the decision to cooperate with China. Conte apparently sees the country's move to help China build the new silk route as a great opportunity for Italy. Conte has announced plans to visit a Belt and Road summit in China next month. The announcement has so far caused a negative reaction from the other G7 countries, given that Italy will be the first founding EU member to sign up to China's bold infrastructure project.
Garrett Marquis, the spokesperson for the White House National Security Council disagrees with Conte's assessment of the deal. According to Marquis, Italy apparently doesn't have much to gain with its decision to cooperate with China. Marquis adds that the decision may instead damage its relationship with its neighboring countries. Most of the EU and the United States have publicly criticized China's initiative, with some officials stating that it is nothing more than a debt trap.
The director of the Centre for European Studies at Fudan University, Ding Chun, explained that Italy will need China's support if it wants to get out of its current debt crisis. Among the different countries in the EU, Italy has the second highest debt-to-GDP ratio after Greece. Joining China's initiative would likely result in numerous cooperative projects that will see the development of new ports, telecommunication facilities, energy plants, and other infrastructure in Italy. In return, China will be able to expand its Belt and Road plan into Italy, which will allow it to connect to other central and eastern European countries.
Conte's predecessors had also previously expressed their intentions of joining China's global trade and infrastructure project. This includes former Prime Minister Matteo Renzi, who previously announced the country's intention in taking part in the Belt and Road initiative. His successor, Paolo Gentiloni, also shared the same sentiments.
