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Italy Joins China's New Silk Road Project

(www.bbc.com)
132 points pseudolus | 2 comments | 23 Mar 19 13:13 UTC | HN request time: 0.419s | source
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cl42 ◴[23 Mar 19 14:31 UTC] No.19470585[source]▶
> The European Union is also worried about unfair competition from Chinese companies, which are controlled by the Chinese government and benefit from the state’s financial backing. EU leaders in Brussels are preparing a strategy to counter the growing influence of China, which they describe as a “systemic rival.”

Most of the Western articles I've read express concern over Italy's involvement in the BRI. However, I am cautiously optimistic: maybe having one of the G7 countries participate in the BRI is a good way to cooperate with China and bring a more inclusive and globalistic approach to working with China? I think it's too early to tell how this will end, but I'm less pessimistic than most.

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dghughes ◴[23 Mar 19 14:58 UTC] No.19470700[source]▶
Look at Sri Lanka where nothing has been done except environmental disaster. Now Sri Lanka owes its soul, and land, to China. https://www.nytimes.com/2017/12/12/world/asia/sri-lanka-chin...

Montenegro has a bridge to nowhere built by Chinese workers instead of locals. Billions owed to China for a useless bridge. https://www.reuters.com/article/us-china-silkroad-europe-mon...

It seems to be China "invading" countries to gain territory only in a roundabout way. Like the Godfather China made an offer that couldn't be refused.

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1. cl42 ◴[23 Mar 19 15:25 UTC] No.19470828[source]▶
Thanks for this. Do you think it would be different if it's an EU member state? i.e., with EU oversight (assuming there is any), the BRI funds and investments could be applied and used differently.
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2. steve19 ◴[23 Mar 19 19:20 UTC] No.19471906[source]▶
The bridge seems a terrible investment, regardless of who pays for it, but these terms are terrible:

"Under the terms of the contract, an arbitration court in China would have jurisdiction in the event of any legal dispute. CRBC won commitments that all imported construction materials, equipment and other goods be exempt from customs and value-added tax. Chinese workers were given 70 percent of the work."

Thr Chinese government issues a loan then disputes are handled by a body whose independence is highly questionable.