Xi Jinping, the Chinese president, later today arrives in Italy for a three-day visit where the highlight is expected to be Italy’s signing up to China’s multi-billion pound Belt and Road Initiative (BRI), a modern-day incarnation of the ancient Silk Road.
The Italian Government will commit to the hugely ambitious infrastructure project, which will forge land and sea trading links stretching from China to Africa, Asia and Europe but which has raised eyebrows mainly in the US amongst warnings that it is playing a dangerous game by cosying up to the world’s second biggest economy.
The accord is only a memorandum of understanding, but allies warn that it could be a Trojan horse that presages much greater Chinese involvement in Italy’s economy and transport infrastructure, with the dangers of heavy debt and an erosion of sovereignty.
The signing will take place Saturday and with it Italy will become the first G7 country to become part of the BRI.
In Rome, Xi will be accompanied by a 200-strong delegation and will meet Italy’s president, Sergio Mattarella, and prime minister, Giuseppe Conte. The Italian Prime Minister told MPs this week the deal would bring huge economic opportunities for Italy, which is once again stuck in a recession.
There is speculation of an encounter with Pope Francis, even though Beijing and the Vatican have not had diplomatic relations for more than 50 years.
Mr Xi attempted to flatter his hosts on Wednesday with a long letter published in leading daily Corriere della Sera in which he praised the centuries of links between Italy and China.
During the visit the two sides will sign commercial pacts on infrastructure, machinery and finance.
Via La Repubblica and ANSA
