China–Italy BRI Cooperation: towards a new cooperation model?

Abstract

ABSTRACT A strategic/geoeconomic/geopolitical as opposed to a short-term contextual approach to the Italy–China Belt and Road Initiative (BRI) agreement identifies significant opportunities for cooperation alongside important challenges: opportunities derive from emerging interests in port interconnectivity, investment and industrial development, the digital economy, and third-party markets, while challenges are associated with uncertain economic recovery, increasing geopolitical rivalry, volatile Italian politics, and contrasting Chinese and Italian and European Union norms. Frequent short-term policy turns result, while Italy–China cooperation may presage a reorientation of the BRI in the direction of multilateral negotiation, soft cooperation and development of city-to-city networks. If not, the outcome may be a less interconnected and vibrant BRI and a more confrontational game between the European Union and China.