Italy seeks off-ramp from China's Belt and Road

Disappointing economic benefits fuel calls for withdrawing from 2019 deal

20230803N Meloni Biden REUTERS

Italian Prime Minister Giorgia Meloni and U.S. President Joe Biden speak at the White House on July 27. © Reuters

TAKAYUKI TANAKA, Nikkei staff writer

VIENNA -- Italy's government under Prime Minister Giorgia Meloni is looking for a way out of China's Belt and Road Initiative after a deal struck with Beijing four years ago failed to produce much economic gain.

As the European country also hopes to avoid economic fallout from a breakup with the Asian powerhouse, Rome will try to maneuver a soft landing toward the end of the year, when an exit would have to be announced.

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