Italy just slammed China's trillion-dollar Belt and Road Initiative, saying it was an 'atrocious' decision to join and that it's barely benefited from the deal
. Italy and China's deal expires in 2024 and will automatically renew unless either country informs the other it intends to pull out in advance.
Italy is likely to exit BRI by the end of the year, Eurasia Group analysts said in a Friday report seen by Insider."Meloni's priority is to bolster her standing with Washington and other allies, even at the risk of retaliation," the analysts wrote. Since its inception, the BRI has been plagued by"buyer's remorse," with 35% of all BRI projects affected by major issues, according to a 2021These issues have led to suspensions or outright cancellations of projects while ensnaring countries in steep debt to China, per the study.
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