League party: China must not ‘colonise’ Italian business
MILAN: Italy’s ruling League party gave hesitant backing to government plans to endorse China’s ‘Belt and Road’ initiative, saying the venture had to boost local businesses and not threaten national security.
Italian Prime Minister Giuseppe Conte has said he might sign a memorandum of understanding ( MOU) to become a part of China’s giant infrastructure plan when Chinese President Xi Jinping visits Rome and Palermo later this month.
The prospect has alarmed Italy’s main Western ally, the United States, which has urged Conte to drop the plan, calling the Chinese venture a “vanity project” that would bring no benefit to the Italian economy.
The US admonition has created tensions within the ruling coalition and one senior League official has called for the MOU to be put on ice.
But the party leadership gave the idea conditional backing following a meeting near Milan.
“If it’s about helping Italian companies invest abroad, then we are ready to talk to anyone,” League leader Matteo Salvini told reporters.
“But we’re absolutely not ready to do so if it’s a question of foreign companies colonising Italy.”
Giancarlo Giorgetti, a senior League figure and cabinet undersecretary, added that Italy had “golden share” powers to protect strategic sectors such as defence, energy, transport and communications, and would not hesitate to use them.
Looking to allay any such concerns, the industry ministry put out a statement saying the mooted deal did not include any accord over the creation of a 5G high- speed telecom network – a major worry for Washington, which has accused Beijing of looking to insert equipment for espionage in next- generation technology.
Chinese companies have denied this.
The Belt and Road plan, championed by Xi, aims to link China by sea and land with southeast and central Asia, the Middle East, Europe and Africa, through an infrastructure network on the lines of the old Silk Road.
Washington has said China is using the initiative to bolster authoritarian regimes and export standards for technology applications that could threaten US businesses and market access across the globe. — Reuters