Economics
Half the World Worries About Italy Getting in Bed With China
- U.S. and France see China using Italy as springboard
- Even Italy’s deputy premier has reservation about signing deal
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European allies see a threat to sovereignty, the U.S. is flagging the risks of Beijing’s growing influence, and half of the Italian government is so uncomfortable that their leader, Matteo Salvini, is leaving town for the day.
And all the same, Prime Minister Giuseppe Conte on Saturday in Rome will sign Italy up to China’s Belt and Road Initiative, a transcontinental infrastructure project that critics say allows Beijing to trade present-day investment for future leverage. Italy’s state lender may also get a green light from Chinese authorities to issue renminbi-denominated bonds, further deepening ties.