Italy Joins China's New Silk Road Project

> 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.

one model for how it's going to work out is the US experience of stronger economic integration with China over the last 30 years. the EU should simply study in great detail the pros/cons of that history.

the analogy seems useful:

* China has the more united and disciplined central government, while the US had a more federalized, decentralized government, approximately like the EU.

* China has based its economic growth on exports, which is far less true of the US (and EU excluding Germany)

* China does not guarantee many (or any) economic rights to outsiders within its boundaries, whereas the US does. similarly the EU grants relatively strong rights, including government financial assistance and medical care, to outsiders within its boundaries

the simplest prediction is that it will turn out roughly the same way as it has for the US, and Germany, the EU zone's current main exporter, has the most to lose.

Actually China, the biggest exporter, exports for less than 20% of its GDP. Nearly all of the major countries depend more on their exports except Japan and the USA.

https://en.m.wikipedia.org/wiki/List_of_countries_by_exports