157

Joining China's Belt and Road was an 'atrocious' decision, Italian minister says (www.reuters.com)

submitted 1 year ago by 0x815@feddit.de to c/europe@feddit.de

33 comments fedilink hide all child comments

The decision to join the Silk Road multiplied China's exports to Italy but did not have the same effect on Italian exports to China, Italian Defence Minister Guido Crosetto said. "The issue today is: how to walk back [from the BRI] without damaging relations [with Beijing], because it is true that China is a competitor, but it is also a partner," Crosetto added. Italy signed up to the BRI under a previous government, becoming the only major Western country to have taken such a step.

you are viewing a single comment's thread
view the rest of the comments

[-] bilboswaggings@sopuli.xyz 2 points 1 year ago

The whole Belt and Road initiative is effectively a scam and I'm amazed how many countries think they want in on it

Most chinese people are not going to buy Italian luxury goods But a ton of Italians will happily buy super cheap Chinese stuff

Rich people are going to buy the Ferrari and other luxury stuff even without this whole thing

So effectively again so many countries are hoping to break into the Chinese market only to pay for a big portion of the construction and gain close to nothing from it

[-] Blaze@sopuli.xyz 2 points 1 year ago

With the increased purchasing power in China's upper middle class, you might imagine they could import some fancy Italian clothes, but I guess there is no way this would compensate the amount of Chinese good that Italians are importing

this post was submitted on 30 Jul 2023

157 points (100.0% liked)

Europe

8332 readers

1 users here now

News/Interesting Stories/Beautiful Pictures from Europe 🇪🇺

(Current banner: Thunder mountain, Germany, 🇩🇪 ) Feel free to post submissions for banner pictures

Rules

(This list is obviously incomplete, but it will get expanded when necessary)

Be nice to each other (e.g. No direct insults against each other);
No racism, antisemitism, dehumanisation of minorities or glorification of National Socialism allowed;
No posts linking to mis-information funded by foreign states or billionaires.

Also check out !yurop@lemm.ee

founded 1 year ago

MODERATORS

poVoq@slrpnk.net