Cattolica Chinese Students Association - The new Silk Road

What is it? And why is it so important?

In the date of 23 March 2019, during the state visit of Xi Jinping in Italy, it was signed the Memorandum regarding the “New Silk Road” and 29 institutional and commercial agreements; Italy has thus become the first country of the G7 to have officially joined the “Belt and Road Initiative” (BRI).

The New Silk Road is a strategic plan promoted by China, whose main objective is to enhance the connection between the Eurasia countries, through planning and building ground and sea routes.

Italy is involved in this project mainly because it is going to offer some of its cities as the last checkpoint before the transit of goods from the sea route to the north of Europe. More precisely the port cities of Genova and Trieste, which are situated on the two side, occidental and oriental, of the Italian peninsula; according to the Chinese project, Italy always stood out as the only junction between the maritime and the ground route.

The following image is an Italian newspaper extract, containing the main point of each agreements.

The BRI, in addition of encouraging the development of Italian logistic and infrastructures, it will also bring a unique opportunity to promote the “Made in Italy” and the country itself as a laudable investor; It will also strengthen the tourism in the country (it is estimated that by 2022, more than 76% of the Chinese urban population will belong to the middle class, and they will be looking for new quality services and goods).

The decision of joining the BRI could also bring some important geopolitical consequences with the United State and Europe; They think that the Chinese project is a further extension their economic influence.

But in conclusion, the New Silk Road represent an ambitious project which could favor the cultural enrichment of both countries.

Written by Michele Fogliata
Translated in English by Michele Fogliata

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Angelo Wang
Good Job Michele! :D
2019-03-27 08:43:07pm