What is G7 “Build Back Better World” (B3W), and can it compete with China’s Belt and Road Initiative (BRI)?
For his first visit abroad since the global disease outbreak, Chinese State Councilor and Foreign Minister Wang Yi chose Europe.
Koper, Slovenia’s main port is to become a major hub fo the Belt and Road Initiative in North Adriatic sea thanks to good connections to Central Europe.
The BRI is also about culture; new film festivals are organised aroundthe world. But the next step is to develop cooperation in tv series and platforms.
San Marino is looking for developing relations with China by joining the BRI. San Marino may become a major financial and tourist destination with the BRI.
Ms. Federica Russo (guest author) gives us an introduction to China’s Panda Bonds and how an Italian bank Cassa Depositi e Prestiti uses them.
Italy’s undersecretary of state Michele Geraci stated that the BRI is a debt trap for Sri Lanka, Malaysia and maybe Pakistan!
Italy and China have just signed a a memorandum of understanding about the Belt and Road intiative. This is a first step towards EU integration in the BRI.
Without coordination at the European level, the various connectivity projects between Europe and China are likely to compete with one another.
According to Romano Prodi, the “Belt and Road Initiative” is the most important project that China has offered to the world.