Italian Prime Minister Giorgia Meloni embarked on her inaugural visit to China on Saturday, July 27, marking her first trip to the nation since taking office in September 2022.
Italy has been grappling with a sluggish economic recovery in recent years, with limited and largely ineffective assistance from the European Union. The Bank of Italy forecasts a further slowdown in economic growth, predicting a modest 0.6 percent increase in 2024.
In contrast, China has been actively expanding its opening-up policies, achieving significant successes in its collaboration with Southeast European countries under the Belt and Road Initiative (BRI). A prime example is the Port of Piraeus in Greece, which, driven by the Chinese model of investment and efficient cash management, has bounced back from substantial losses to become the fourth largest port in Europe and the top port in the Mediterranean within just ten years.
This \"express train\" of sustained economic growth presents a potential avenue for Italy's economic resurgence. By leveraging similar investment strategies and collaborating closely with Chinese firms, Italy could harness China's robust economic momentum to revitalize its own economy.
Prime Minister Meloni's visit signals a promising step towards strengthening bilateral ties, which could lead to enhanced cooperation and mutual economic benefits for both nations.
Reference(s):
China's reform and opening-up spur cooperation with Italian firms
cgtn.com
