Has the Italian government made a 180-degree turn in its China policy? Before, the Meloni government thought that China was a "source of risk," but now why has it suddenly become so enthusiastic? Is it because there is less pressure from the United States, or does Italy itself feel that it is more in its own interests to cooperate with China?
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This, to be honest, surprised many people around the world. Prime Minister Meloni is so abnormal, we have to think about it carefully to see why this is and how this relationship will develop in the future.
Let's first talk about why Italy withdrew from the "Belt and Road" before. At that time, Meloni said that the "New Silk Road" had no effect in Italy, and she withdrew. Actually, the Western allies of the United States have put a lot of pressure on Italy to keep it away from China.
However, the withdrawal from the "Belt and Road" does not mean that Italy will not do business with China. Last year, Italy's investment in China hit a new high, as much as 13 billion euros! Major companies such as STMicroelectronics and Stellantis Motors have invested. On the other hand, Chinese investment in Italy, albeit a little less, is still 4.9 billion euros. This shows that the economic and trade cooperation between the two sides is still quite close.
At the recent event to commemorate the 700 th anniversary of Marco Polo's death, Italian Foreign Minister Tajani personally welcomed the Chinese delegation on the Grand Canal in Venice and said many words about friendly exchanges between the two countries.
What is the reason for this? Let the analysts explain it to us. There are several key reasons, they say, that have led Italy to change its attitude towards China.
First of all, we have to talk about the "de-risking" plan that Europe and the United States have come up with, which has really caused a lot of trouble for European countries! The United States, on the other hand, has always talked about China, and they have not only suppressed Chinese companies' investment in hot fields such as electric vehicles and solar energy, but also always looked like they were on top. But they don't want to think about what Western company doesn't want to get a piece of the pie in such a big market as China? Which company is willing to give up such a big opportunity to make money?
Besides, China is also an important player in global geopolitics, so how can it be so easily marginalized? China's influence is real and cannot be ignored by casual talk. Therefore, it is not so easy for the United States to suppress China.
Let's talk about the situation in Italy. Italy is a country whose economy is particularly dependent on exports. Italy's exports to China recently amounted to 19.2 billion euros, which is a record number!
In addition, Italy now also wants to attract more Chinese capital to invest. Especially in those advanced manufacturing fields, they feel that as long as they are friendly and open to China, Chinese companies will be willing to invest and bring more capital and jobs to Italy.
So in this way, Italy now really wants to re-establish that kind of friendly economic and trade relations with China. Although it may not return to the framework of the "Belt and Road", it is also a good choice to engage in a new way of cooperation such as the "Marco Polo Road". After all, good relations with China would have a lot to offer Italy.
However, Italy also has to find a balance between China and the United States. Tajani also reached an agreement with the United States to combat disinformation, which shows that Italy must also be careful in its dealings with China. After all, the United States, a Western ally, and Italy cannot be completely put aside.
Such a change in the Meloni government shows that in the face of interests, constructive Sino-Italian economic and trade relations have become the common needs of both sides. Even Italy, which was not very friendly to China in the past, is now exploring new ways to deal with China.
So in the future, will the "Marco Polo Road" make China and Italy cooperate more closely? Let's wait and see!