Day: 7 August 2023

Prime Minister Giorgia Meloni’s government says joining China’s Belt and Road program four years ago under a previous government had done little to boost Italian exports, while Chinese exports to Italy had soared.

Rome is the only major Western power to join Belt and Road initiative.

Critics have long claimed it’s a tool for China to spread its geopolitical and economic influence.

DW »

Washington Post »

Through the first five months of this year, U.S. imports from China were down 24 percent from the same period one year ago, according to the Census Bureau. Companies such as HP, Stanley Black & Decker and Lego are among those that have been repositioning their supply lines for American consumers, either to avoid the risk of being pinched between rival superpowers or as part of a longer term strategy to produce goods closer to customers.

Related »

• Fewer tourists and businesspeople are travelling to China
• South Korea exported more goods to the US than to China last year for the first time in almost two decades