| News | Date | December 6, 2023 |
| What | Belt and Road Initiative (BRI) | Global infrastructure program |
| | Led by China |
| | Aim |
| | – Enhance trade routes |
| | – Improve global infrastructure |
| | Membership |
| | – Over 100 countries |
| | – Italy joined in 2019 |
| Why | Disappointment with economic benefits | |
| | Strategic rethinking of China |
| | Unmet promises |
| | – Exports to China increased slightly |
| | From 13 billion (2019) |
| | To 16.4 billion (2022) |
| | – Unequal trade growth |
| | Chinese exports grew more dramatically |
| | – Decreased Chinese investment in Italy |
| | From $650 million (2019) |
| | To $33 million (2021) |
| | – Geopolitical concerns |
| | Growing European skepticism towards China |
| | Concerns over China’s global influence |
| | Beijing’s support for Russia |
| | Geopolitical alignment with Moscow |
| Where | Italy | First G7 country to join BRI |
| | Decision to withdraw |
| When | Italy joined BRI | 2019 |
| Withdrawal announced | 2023 |
| BRI agreement expiration | March 2024 |
| Who | Italian Prime Minister | Giorgia Meloni |
| | Advocated for withdrawal |
| Chinese President | Xi Jinping |
| | Championed the deal |
| How | Official notification to China | |
| Agreement set to expire | March 2024 |
| Italy’s shift in geopolitical strategy | |
| | – Pro-NATO stance |
| | – Strengthening ties with the U.S. |
| | – Maintaining trade with China |
| Pros | | Potential for improved Italian-Chinese trade relations |
| | Despite withdrawal |
| | Enhanced geopolitical standing with Western allies |
| Cons | | Risk of strained Italy-China relations |
| | Possible economic repercussions |
| | For Italy and BRI |
| Challenges | | Managing post-withdrawal diplomatic relations |
| | Realigning Italy’s international trade strategy |
| | Ensuring continued economic growth |
| Way Forward | | Italy assumes G7 presidency in 2024 |
| | Focus on strengthening European ties |
| | Exploring new international trade opportunities |
| Other Details | Italy’s initial hopes for BRI | |
| | – Attract investment |
| | – Expand exports |
| | – Counterbalance EU skepticism |
| Context | Italy’s economic struggles pre-BRI |
| | Populist government’s outlook |
| Global Impact | BRI scaled back |
| | – Debt distress in recipient countries |
| | – Chinese banks reducing risky loans |
| | European focus on “de-risking” economies |
