Italy might leave the "New Silk Road": FT

Rome is considering withdrawing from China's 'Belt and Road' initiative, which will automatically be renewed in 2024 unless it actively exits. Italy has been caught up in rising tensions between the US and China due to Beijing's close ties with Moscow. Prime Minister Giorgia Meloni intends to make an announcement on Italy's participation before the G7 summit in May. Italy's business community is concerned about an exit from the US due to the post-Covid reopening of the Chinese market. The Belt and Road Initiative, unveiled by China in 2013, is expected to provide effective connectivity and boost China's cooperation with more than 80 countries.