Live Breaking News & Updates on Italy China Memorandum

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Italy wants to enjoy the benefits of the alliance with the United States and at the same time take advantage of the economic opportunities of the Chinese market. Italy’s “China card” explains how the current Italian government intends to forge closer ties in trade, finance, and industrial cooperation with Beijing, even if that creates uncertainty – and potential tensions – with Washington. It is the realization among some of Italy’s political and corporate elites that while the security of the country will continue to depend on the military alliance with the United States, Italy’s economic well-being – severely hit by the pandemic-induced lockdowns – will increasingly depend on closer ties with the Asian giant. ....

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