Italy Declares Trade Independence From China

By H. Haverstock, The Chicago Times

October 29, 2022

ROME – Italy’s industry minister declared that Italy will not be dependent on Chinese trade or technology and will safeguard vital strategic industries from foreign influence..

At a recent press conference, Adolfo Urso, Minister of Economic Development, commented on China based Cosco’s recent purchase of shares in a German port terminal in Hamburg operated by logistics firm HHLA.  HHLA also operates in the Italian port of Trieste.

“We will not put ourselves into the hands of the Chinese,” Urso said in a response to journalists. “If others intend to move from energy dependency, and therefore from Russian power, to technological or to some extent commercial dependence on China, we will not follow them.”

Urso, a member of the Brothers of Italy, was sworn in last week after his appointment by newly elected Prime Minister Giorgia Meloni.

Prime Minister Meloni has indicated that she will not support Italy’s 2019 agreement to join the controversial Belt and Road initiative controlled by China.

Urso, under direction from Meloni, plans to utilize anti-takeover laws to prevent foreign powers from bidding on strategic Italian industry vital to the nation’s survival.  Anti-takeover laws, also known as the “Golden Powers” have been invoked by former Italian prime ministers.