Italy may be just the latest economic partner for China in Europe, but it is a significant one
ROME • Making a three-day visit to Italy, Chinese President Xi Jinping arrived at Rome's presidential palace with a cavalry escort usually reserved for royals.
Chinese and Italian companies were also set to sign 10 accords potentially worth as much as €20 billion at a ceremony attended by Mr Xi yesterday, according to an Italian official who declined to be named. The disconnect between the two scenes laid bare the divisions and tensions in the EU, caught in the middle of a trade war between the United States and China, while trying to find its bearings and assert its power in a volatile era of shifting geopolitical alliances and American retrenchment.
It is the first member of the Group of 7 nations that once dominated the global economy to take part in China's vast BRI project, a sign of how a rising China is reshaping the world's economic and political order. The European Commission has called China an"economic competitor" in critical industrial fields and a"systemic rival" politically, in a tough paper issued recently.
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