https://ghostarchive.org/archive/4fZTD?wr=false
ROME, July 23 (Reuters) - Italy’s Prime Minister Giorgia Meloni, who will visit the White House on Thursday, said that U.S. President Joe Biden had never challenged her on the issue of Rome being part of the Chinese Belt and Road Initiative (BRI).
Meloni leads the only major Western country to have joined China’s BRI scheme, which envisions rebuilding the old Silk Road to connect China with Asia, Europe and beyond with large infrastructure spending.
“The president of the United States has never directly raised the question with me,” she told a news conference following an international meeting on migration in Rome.
The deal was signed in 2019 under the administration of Prime Minister Giuseppe Conte, drawing criticism from Washington and Brussels, and Italy is highly unlikely to renew it when it expires early next year.
It has produced little benefit for Italy over the past four years, with exports to China totalling 16.4 billion euros ($18.1 billion) last year from 13 billion euros in 2019.
Too bad the tankies here refuse to hear a single bad word about the CCP, with some even making this sound like ‘Trumptard fear-mongering’.
In reality, the BRI has shaped up to be little more than debt-trap diplomacy, powered by bribes to influential politicians (borderline autocrats) who’re willing to sell their countries for a dime.
I actually believe that those countries decided to take Chinese loans after becoming weary of IMF ones. The latter come with a lot of strings attached that force said countr8toalign with wester ideals and economic doctrines such as privatization of industries and services as well as social reforms. It is actually not too far off from how colonisers would push the colonies to become ‘civilized’. The west as always thinks it knows better and must push the ‘uneducated’ countries in the right direction. The Chinese offered an alternative where the loan recipients are allowed to develop the way they see fits them best. They are not looking to mold new countries in their image, just create economically strong trading partners that may see them more positively that they see the west. In the future that may allow them to contrast the western countries in geopolitical strength. TL;DR: China is actually hoping that these countries develop into strong economies that are aligned with China rather than with the USA.