Italy ‘Unlikely’ to Renew Belt & Road Deal: Official

Time’s almost up on Italy’s partnership with China’s Belt and Road initiative.

A top Italian official says his country is “unlikely” to renew the deal. Though he notes a formal decision would come only after the Group of Seven summits this month—hosted by Japan.

Italy joined Beijing’s far-reaching infrastructure project back in 2019. It’s the only G-7 nation to sign on.

Opponents feared it would give Beijing control over the nation’s critical infrastructure and open the door to Intellectual property theft, but the nation’s then-leader saw it as an opportunity to boost the Italian economy. However, the deal appears to have had the opposite effect.

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