Italy is moving towards greater economic cooperation with China under the Belt and Road Initiative (BRI), Beijing’s development & investment megaproject in 152 countries in Europe, Asia, the Middle East, Latin America, and Africa.
This week, Italian Prime Minister Giuseppe Conte said the government is exploring methods to monitor deals under the BRI brand. Conte also said Italy will take special measures to safeguard strategic activities and national interests. US officials effectively responded, warning that the BRI is a debt trap for other nations. RT’s Boom Bust discusses the issue, pointing out that the public debt of the Eurozone’s third largest economy, Italy, is currently measured at 130 percent of GDP.