Italy to Join China Initiative Despite US Objections
By The Associated Press
March 19, 2019
MILAN — Premier Giuseppe Conte pledged Tuesday to make Italy the first Group of Seven nation to join China's ambitious Belt and Road initiative, despite objections from the United States and concerns within his governing coalition.
Speaking to parliament, Conte said that Italy's signing of a memorandum of understanding for the infrastructure-building venture, which is due to happen during the Chinese premier's visit this week, would not "in the least" put into question Italy's position within the strategic trans-Atlantic alliance or with European partners.
Italy's signature would be considered a major legitimation of the project that envisions overland and maritime routes connecting China with Europe. A White House official has warned Italy against joining, calling it a Chinese "vanity project."
European governments declined to sign a joint declaration on the "Belt and Road" at a forum last year in Beijing. They argued it lacked standards on financing and transparency.
In his first remarks to lawmakers on the deal on the eve of Chinese President Xi Jinping's visit, Conte said the details have been worked out over months of consultations at every level of government. He emphasized that the memorandum is not legally binding and that it would give Italy access to an enormous market.
"We want to first and foremost rebalance our trade, which is not favorable to us now. Our exports to China are far lower than other European countries," Conte said.
more @
https://www.nytimes.com/aponline/2019/03/19/world/europe/ap-eu-italy-china.html
By The Associated Press
March 19, 2019
MILAN — Premier Giuseppe Conte pledged Tuesday to make Italy the first Group of Seven nation to join China's ambitious Belt and Road initiative, despite objections from the United States and concerns within his governing coalition.
Speaking to parliament, Conte said that Italy's signing of a memorandum of understanding for the infrastructure-building venture, which is due to happen during the Chinese premier's visit this week, would not "in the least" put into question Italy's position within the strategic trans-Atlantic alliance or with European partners.
Italy's signature would be considered a major legitimation of the project that envisions overland and maritime routes connecting China with Europe. A White House official has warned Italy against joining, calling it a Chinese "vanity project."
European governments declined to sign a joint declaration on the "Belt and Road" at a forum last year in Beijing. They argued it lacked standards on financing and transparency.
In his first remarks to lawmakers on the deal on the eve of Chinese President Xi Jinping's visit, Conte said the details have been worked out over months of consultations at every level of government. He emphasized that the memorandum is not legally binding and that it would give Italy access to an enormous market.
"We want to first and foremost rebalance our trade, which is not favorable to us now. Our exports to China are far lower than other European countries," Conte said.
more @
https://www.nytimes.com/aponline/2019/03/19/world/europe/ap-eu-italy-china.html
