Belt and Road advances despite setbacks
But for recession-hit Italy, the BRI provides opportunity for it to revitalise its economy. It has to be “Italy first”. It has to upgrade its ports and increase exports to China, which stood at only 3% of its total exports.
In total, Chinese investors signed 29 separate deals and projects totalling US$2.8bil (RM12bil). Most notably, the Chinese agreed to invest in port infrastructure in Trieste, Genoa and Palermo, which could give Chinese goods faster access to Europe.
“For China, this is clearly a major symbolic victory because of the powerful endorsement from a G7 country, which was a founding member of the European integration project,” writes Xiang Lanxin in the Valdai Discussion Club, a grouping of international scholars.
Read more on https://elevenmyanmar.com/news/belt-and-road-advances-despite-setbacksasianewsnetwork
In total, Chinese investors signed 29 separate deals and projects totalling US$2.8bil (RM12bil). Most notably, the Chinese agreed to invest in port infrastructure in Trieste, Genoa and Palermo, which could give Chinese goods faster access to Europe.
“For China, this is clearly a major symbolic victory because of the powerful endorsement from a G7 country, which was a founding member of the European integration project,” writes Xiang Lanxin in the Valdai Discussion Club, a grouping of international scholars.
Read more on https://elevenmyanmar.com/news/belt-and-road-advances-despite-setbacksasianewsnetwork
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