The only country in the G-7 that is part of the mainland's extensive infrastructure initiative may be pulling out.
Italy has signaled to the US that it is pulling out of China's international program to build large-scale transport links and related infrastructure around the world, Bloomberg (paywall) reported Wednesday.
It is the only member of the so-called international Group of 7 of the world's largest Western democracies that had participated in the initiative. Leaving it is likely to prompt comment in Asia of a growing divide between countries seen as being traditionally developed yet increasingly displaced by rising economic momentum in other parts of the world, much of which is supported by China.
According to the news service, Italian Prime Minister Giorgia Meloni ostensibly reassured US House of Representatives Speaker Kevin McCarthy that although a final decision has not yet been taken, her government is leaning towards exiting its role in China's initiative. Bloomberg cited people present at the talks as the sources of the information.
Former Government
Italy originally signed up to the Belt and Road pact in 2019 under the former government under Guiseppe Conte and participation would have automatically renewed in 2024 unless there was an effort to actively exit the agreement.
According to Bloomberg, Italy, and much of Europe, are struggling to balance trade considerations with China against its continued support of Russia in the context of the Ukraine war.
Meloni's spokesperson declined to comment and McCarthy's office did not respond to requests to do so, Bloomberg indicated.
