All roads seem to lead to Rome as Italy expresses its love for China’s Belt and Road Initiative
By Pepe Escobar
A day earlier, in Brussels, the EU is to debate a common strategy related to Chinese investments in Europe.
A substantial part of the EU is already linked de facto with BRI. That includes Greece, Portugal, 11 EU nations belonging to the 16+1 group of China plus Central and Eastern Europe and, for all practical purposes, Italy.
And yet it takes an undersecretary in the Italian economic development ministry, Michele Geraci, to tell the Financial Times that a memorandum of understanding supporting BRI will be signed during Xi’s visit, for all (White House) hell to break loose.
The FT is not shy of editorializing, calling BRI a “contentious infrastructure program.” BRI is a vast, far-reaching, long-term Eurasia integration project, and the only quasi-global development program in the market, any market. It’s especially “contentious” to Washington – because the US government, as I detailed elsewhere, decided to antagonize it instead of profiting from it.
A White House National Security Council spokesperson deriding BRI as a “made by China, for China” project does not make it so. Otherwise, no less than 152 – and counting – nations and international organizations would not have formally endorsed BRI.
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