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Italy has joined the long list of countries adhering to the Chinese project of a "new Silk Road". The agreement was signed Saturday (March 23rd) in Rome by the Italian Prime Minister and Xi Jinping. A contract of trust that binds nothing, according to Giuseppe Conte, but which is already heavily criticized in Washington and Brussels.
With our correspondent in Rome, Anne Tréca
At a ceremony in the presence of Chinese President Xi Jinping and Italian Prime Minister Giuseppe Conte, Italy became the first G7 member country to join this phased project of marine and land infrastructure launched by Beijing in 2013.
To revive a failed economy, Italy will open China's southern gateway to Europe. Already 29 sectoral agreements have been signed in the Italian capital: from the tax system to health, from innovation to culture through food processing and especially maritime and terrestrial infrastructure and logistics.
China and Italy would already have insured contracts for seven billion euros and the possibility of even reaching 20 billion - this is the official message. However, Rome has finally revised down the number of agreements signed with China this Saturday because of fears issued by Brussels and Washington.
But Italy will be able to rebalance its trade balance with China, trump Luigi di Maio, Deputy Prime Minister, promoter of the operation. But his alter ego Matteo Salvini has shunned the party and notes that China is not a free market.
There have been many false notes in the fanfare of Italian politicians. To do so alone, Rome has also angered Washington and isolated again in the European Union . For Paris, Berlin, Brussels, China is a systemic rival facing which Europe must be strong and united.
The Italian government has become marginalized, away from its historic allies to engage on the uncertain road of Chinese silk. This is a high risk bet.
→ REPEAT: China-Italy cooperation: Xi Jinping "praises his relationship with Rome"
In France, Xi Jinping is not on conquered ground
After Italy, the Chinese president arrives this Sunday in Monaco, then in France. He is expected, but not like the messiah, as was the case when he arrived in Rome on Friday. France, unlike Italy, does not want to take advantage of the offer of the Chinese president to enter the project of new silk roads that would have allowed him to obtain substantial credits for major works.
Because this is where all the fears of the European Union reside. The loans granted by China could ultimately suffocate a state that could lose, in case of non-repayment of sums, the ownership of its infrastructure.
Italy wanted to catch up with its European neighbors in terms of exports to the Asian giant. By signing this Memorandum of Understanding, the Italian State seems to have obtained certain guarantees in this respect. But in Paris, Xi Jinping will not have the right to the same speech. Emmanuel Macron, just like Angela Merkel defends a reciprocity requirement vis-à-vis China, that is to say, he wants to clarify things with his Chinese counterpart at the economic, commercial, technological and safe. Not sure this is the message that Xi Jinping wants to hear, even though Beijing seems more inclined today to listen to European concerns.