Italy plans to join China's Belt and Road Initiative - Financial Times

 

FILE PHOTO: The sign of an international forum on the "Belt and Road" Legal Cooperation is pictured in Beijing, China July 2, 2018. REUTERS/Jason Lee

 

(Reuters) - Italy plans to sign a memorandum of understanding to become a part of China's Belt and Road Initiative (BRI) by the end of March, a move which has drawn critical reaction from the United States, the Financial Times reported on Tuesday.

 

"The negotiation is not over yet, but it is possible that it will be concluded in time for (Chinese President Xi Jinping's) visit," the newspaper reported https://on.ft.com/2EEhKv3 quoting Michele Geraci, the undersecretary in the Italian economic development ministry.

 

The United States said the project was unlikely to help Italy economically and could significantly damage the country's international image, the paper reported.

 

"We view BRI as a 'made by China, for China' initiative," the report quoted Garrett Marquis, White House National Security Council spokesperson, as saying.

 

The Belt and Road initiative, championed by President Xi, aims to link China by sea and land with southeast and central Asia, the Middle East, Europe and Africa, through an infrastructure network on the lines of the old Silk Road.

 

Aside from boosting trade and investment, Xi aims to boost exchanges in areas such as science, technology, culture and education.

 

(Reporting by Shubham Kalia in Bengaluru, Editing by Sherry Jacob-Phillips)

 

-- © Copyright Reuters 2019-03-06

The answer to globalist prayers in terms of speeding up the flow of millions of impoverished migrants from Africa and Asia to Europe.

 

Can't wait to hear what Matteo Salvini thinks of the plan!

Italy is so disorganised and debt ridden you'd be lucky if they could build a bicycle path from Rome to Milan.

China is simply taking the piss. 

Will China build it ?.Thailand certainly won't.

Shades of Marco Polo!

Leather jackets, shoes and housing starts

Is Italy entitled to sign such an agreement without EU approval?

 

Could be another potential bone of contention.

Maybe they will build some government buildings for free, and throw in some cheap military equipment as well-same as Cambodia 

Italy better find a loooooooong spoon if it wishes to sup with China.