Shannon Brandao
From the article: "The Guardian [excerpt]: #Italy has informed #China that it is pulling out of the #BeltandRoadInitiative, Reuters reported.
Italy is the only #G7 country to have joined the programme, which focuses on #trade and #infrastructure.
Rome’s agreement with Beijing would have been renewed automatically in March 2024, unless Italy gave at least three months’ written warning.
Nevertheless, Corriere della Sera reported that the Italian government also sent China a letter expressing desire to maintain a strategic partnership.
The move comes as Ursula von der Leyen, the #EuropeanCommission chief, and Charles Michel, the #EuropeanCouncil president, are set to meet the Chinese leader, #XiJinping, at a summit on Thursday.
They are expected to issue a veiled warning that unless China does something about the supply of cut-cost goods to #Europe, the bloc could retaliate."
#news #geopolitics #business #tradewar #EU