Italy's Meloni To Pull Trigger On Belt & Road Exit In Major Blow To China

May 9, 2023
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The government of Italian Prime Minister Giorgia Meloni is readying plans to pull the trigger on a formal exit from China's controversial Belt and Road Initiative (BRI), estimated at having funded $900 billion in infrastructure projects globally.

The past weeks have seen increasing reports that Meloni’s Brothers of Italy party has been spearheading a move away from the BRI, though some within the broader center-right coalition unity government have been on the fence. Bloomberg now reports Tuesday that "Italy has signaled to the US that it intends to pull out of a controversial investment pact with China before the end of the year."

"Italian Prime Minister Giorgia Meloni reassured US House Speaker Kevin McCarthy during a meeting in Rome last week that while a final decision hasn’t been taken, her government is favoring an exit from its role in China’s massive Belt and Road Initiative, according to people present at the talks," Bloomberg continues. Neither the Italian nor US administrations have yet to give public comment or confirmation to the report...

To read more visit Zero Hedge.

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    Janznice

    Fantastic

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