Italy has taken a historic step by becoming the first G7 (Group of Seven) country to join China’s formidable Belt & Road Initiative (BRI). This development is monumental as the G7 encompasses Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States, which together represent the seven largest economies as described by the International Monetary Fund (IMF), accounting for 58% of global net wealth. These nations are now connected through Italy’s alliance with the multi-national BRI project.
Understanding Belt & Road Initiative
Launched in 2013, the Belt & Road Initiative (BRI) is China’s ambitious enterprise aimed at enhancing connectivity and cooperation among countries spanning the continents of Asia, Africa, and Europe. According to China, this initiative encircles approximately 150 nations. BRI’s comprehensive agenda includes constructing roadways, railways, maritime ports, power grids, oil and gas pipelines, and related infrastructure projects.
This expansive initiative comprises two core parts: The Silk Road Economic Belt, a land-based link designed to connect China with Central Asia, Eastern Europe, and Western Europe; and the 21st Century Maritime Silk Road, a sea-based network planned to link China’s southern coast to the Mediterranean, Africa, South-East Asia, and Central Asia.
| Parts of BRI | Description |
|---|---|
| Silk Road Economic Belt | Land-based, connecting China with Central Asia, Eastern Europe, and Western Europe. |
| 21st Century Maritime Silk Road | Sea-based, linking China’s southern coast with the Mediterranean, Africa, South-East Asia, and Central Asia. |
Significance to China
The BRI is a reflection of China’s economic power, industrial capabilities, and global political and strategic aspirations. As domestic infrastructure spending became less sustainable, China redirected its focus to boost the global competitiveness of its industries. Large-scale infrastructure investments in lesser-developed and developing countries have allowed China to expand its influence globally, challenging the west’s hegemony and altering established global norms.
Criticism of Belt & Road Initiative
The BRI has not escaped criticism from western nations, many of whom view it as a form of new colonialism or a 21st-century Marshall Plan. A significant concern is the perceived “debt trap diplomacy” – an accusation leveled at China for allegedly extending excessive credit to debtor countries with the aim of extracting economic or political concessions.
Italy’s Significance in BRI
Italy’s participation in the BRI represents a potential game-changer, given its status as a major global economy. Its alliance with the BRI could encourage participation from other powerful economies.
India’s Resistance to Joining BRI
Despite BRI’s growing influence, India has refrained from joining due to geopolitical concerns. The China Pakistan Economic Corridor (CPEC), a flagship project of the BRI, is seen as infringing on India’s sovereignty as it involves infrastructural developments in the disputed territory of Gilgit-Baltistan, under Pakistan’s control but claimed by India as a part of Jammu and Kashmir.
Furthermore, the successful implementation of the CPEC project could hamper India’s strategic interests in South Asia, aiding Pakistan’s legitimacy in the Kashmir dispute, and furthering China’s strategic hold in the region. An example is the construction of the Hambantota Port in Sri Lanka, which enabled China to secure a strategically crucial location in the Indian Ocean.
