Italy to withdraw from China's belt and road initiative, say sources

Italy has formally notified China of its withdrawal from Beijing's ambitious belt and road infrastructure initiative (BRI), a significant trade and infrastructure project, according to two government sources. The decision, which had been expected for some time, was reportedly communicated to Beijing three days ago, although no official communication has been released by either side. The Italian prime minister, Giorgia Meloni, has long been critical of the project and had expressed her intention to withdraw from the deal, seen by many as an effort by China to buy political influence but having limited benefits for Italy. Italy became the only…