Italy Joins Belt Road Initiative

00:20 - During this year’s China Development Forum, China’s minister of industry and information technology said the government will gradually reduce its micro-management and direct intervention in its industrial sector.

03:35 - Italy has signed on to be part of China’s Belt and Road initiative during Chinese President, Xi Jinping’s visit to Europe last week by signing an MOU on the banking, Construction and ports and even the return of hundreds of Chinese cultural goods currently in Italy. China dubs the Belt and Road initiative a “modern Silk Road” to kickstart a new era of globalisation. Analysts at Morgan Stanley predict China's investments in BRI countries could reach $1.3 trillion by 2027