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Free AccessMeloni Looks To Position Italy As EU-China Go-Between As Visit Concludes
(MNI) London - Italian Prime Minister Giorgia Meloni concludes a multi-day visit to China on 31 July during which she and Premier Li Qiang agreed on a three-year 'action plan' intended to boost links. There had been concerns in Rome that the trip could prove underwhelming, especially given the Italian gov'ts withdrawal from China's flagship Belt and Road Initiative in 2023. However, efforts to talk-up investment opportunities and trade have gone down well in Beijing, which has recently been on the receiving end of more negative rhetoric from Brussels regarding barriers to trade.
- Bloomberg reports, "A measure of how Meloni did is reflected in Chinese state media reporting of the event. They were effusive about her pitch to make Italy a go-between." Xinhua called China and Italy "the ideal duo to bridge East and West."
- Reuters: "Asked whether she had specifically discussed with Xi Chinese automakers opening factories in Italy during her Monday meeting, Meloni said "no" but added: "The issue of electric mobility is one of the topics included in our memorandum of industrial cooperation."
- With EU member states set to vote in October on imposing higher permanent tariffs on Chinese EVs, Italy's decision will be watched closely. Initial indications were that Rome would vote in fabvour of the higher tariffs, but seeking to be a go-between for Beijing and Brussels could see Italy take a more neutral stance.
- Separately, Meloni acknowledged that, "China's economic support of the Russian war effort against Ukraine is a source of "great friction",
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.