China touts the benefits of its 'Belt and Road' initiative to Italy, which may end the agreement
Sep 5, 2023
China's foreign minister is seeking to sell his Italian counterpart on the benefits of leader Xi Jinping's signature “Belt and Road” initiative of Chinese-built and -funded infrastructure projects, as Rome considers whether to renew the agreement
BEIJING (AP) — China’s foreign minister is seeking to sell his Italian counterpart on the benefits of leader Xi Jinping’s signature “Belt and Road” initiative of Chinese-built and -funded infrastructure projects, as Rome considers whether to renew the agreement.
In a Monday meeting, Wang Yi told Antonio Tajani that bilateral trade had grown from $50 billion to nearly $80 billion and that Italy’s exports to China increased by around 30% over the past five years.
While the figures haven’t been corroborated, Italy’s conservative government has cast doubt on the benefits of the arrangement.
In 2019, Italy became the only European country to sign on to the initiative under then-premier Giuseppe Conte, and it is not expected to be extended when it comes up for renewal at year’s end.
China's official Xinhua News Agency quoted Wang as telling Tajani that “China and Italy should adhere to the right way of getting along with each other" with mutual respect and trust in the face of geopolitical disturbances and that China was ready to push for steady development of China-Italy relations.
The Italian news agency ANSA quoted Tajani as saying that, “Italy is the supporter of dialogue with Beijing at the European Union level too, and of frank, open dialogue on principles and rights.”
China touts the “Belt and Road” initiative, known as the BRI, as successfully raising infrastructure in underdeveloped nations. Critics say BRI built vanity projects in countries that needed poverty eradication and basic services, while the local governments were left with huge debts owed to Chinese state banks under contracts shrouded in secrecy.
MORE NEWS
China widens PLA anti-graft campaign, expelling corporate chiefs, 16 generals from party
Beijing has given new details about the scale of its anti-corruption drive into the People’s Liberation Army and defence industry, with fresh names confirmed as being investigated. They include top generals who once oversaw theatre commands, heads of the powerful Central Military Commission’s General Office and executives in key defence companies. The names are included in a communique released at the close of the fifth plenum of the 20th Central Committee on Thursday, as the party concluded its...
Bihar MLC polls: RJD's Anil Jha declared elected, party's overall tally climbs to 17
The Election Commission has declared RJD candidate Anil Jha elected from the Darbhanga Graduates constituency in the Bihar Legislative Council elections. Jha defeated sitting BJP MLC Sarvesh Kumar by securing 25,406 votes against his rival's 21,396. The RJD has now won two of the eight seats contested, improving its tally in the Upper House to 17.
My broken office printer has more job security than me: Corporate employee's rant on why a machine can't be disposed unlike humans goes viral
A corporate employee's account of a printer that has been broken since 2021 but cannot be disposed of because of company policies has sparked online reactions. After repeated rejections from Finance and Facilities, the employee was eventually made the machine's official custodian, joking that it had more job security than he did.
eMudhra appoints KPMG to conduct independent review of TLS certificate incident
Digital trust provider eMudhra appointed KPMG to conduct an independent review of a recent TLS certificate incident. This appointment follows a commitment made by the company to ensure clarity regarding the incident. The incident involved weak private keys associated with several certificate authorities, which remained undetected for a significant period. As a result, eMudhra has withdrawn from its global SSL/TLS certificate business due to security concerns.
Nepalese NGO plans to set up India-Nepal joint tourism council
The proposed council will bring together tourism experts, travel and tour operators, hotel and resort managers, hospitality professionals and other stakeholders from both countries
Rs 5 Lay's packet, Rs 8,000 compensation! Man finds just 4 grams of chips instead of 15 grams; court orders PepsiCo to pay with interest
A Jaipur consumer commission has directed PepsiCo to pay Rs 8,000 in compensation and litigation expenses to a customer who alleged that a Rs 5 Lay's packet contained only 4 grams of chips instead of the declared 15 grams. The company must also refund Rs 5 with 6% annual interest. The complaint against retailer Metro Cash & Carry was dismissed.
World Wrestling Championships: Manisha Bhanwala A Win Away From Creating History
Manisha Bhanwala advanced to the women's 59kg final at the World Championships, keeping India's gold medal hopes alive.
Delhi air force ground closure: Why govt is reclaiming prime Lutyens land near PM house including Race Club, Jaipur Polo Ground and Gymkhana Club
The closure of the Air Force Sports Complex on October 28 is the latest development in the government's drive to reclaim prime land near Lok Kalyan Marg. After taking over the Delhi Race Club and Jaipur Polo Ground and terminating the Delhi Gymkhana Club's lease, questions remain over the Centre's plans for these properties.
DHFL Case: Delhi court rejects CBI plea for additional charges against Wadhawan brothers, says it cannot review charge order
A special court in Delhi denied the CBI's request for additional charges against Kapil Wadhawan and Dheeraj Wadhawan. The court stated that it could not review its earlier decisions except for clerical errors. Special Judge Sanjeev Kumar Malhotra noted that charges had already been properly framed against the accused. The CBI's arguments for new charges were deemed unsubstantiated and informal.