Rome: Recently you must have must heard about it that Italy has finally said proper goodbye to China, Italy has come out of the BRI of trillion dollars, Italy will get official exit China Belt and Road Project. Earlier, Italy had given this indication that they had made a mistake by joining China’s Belt and Road, but now Italy has officially told China that we are not going to join your group again.
On one hand, we are seeing that Italy, which is a very strong economy in itself, is moving away from China. At the same time, Italy has recently built very strong relations with India. Here you will be able to see Italy and India has formed a strategic partnership and a Memorandum of Understanding on Defence Cooperation has also been signed. Italy is a very strong country itself and the influence of this country was also very big in the geopolitics.
Let me show you some points, from them you will be able to understand why Italy is doing this so important and what is the economic power of Italy. Now this is the list of countries according to their nominal GDP. You will see Italy at number eight and you will find Italy in itself. There is an economy of above 2 trillion dollars, although overall their GDP growth rate is not that much, their population is around 5 crore 90 lakhs and its fertility rate is 1.24 which means their population is crashing.
Their GDP growth rate is not so much that they will be able to reach around 3 trillion tomorrow, but still Italy, Canada, Russia, South Korea, Australia, even Turkey, it is a bigger economy than all these countries. It is a very important country and if we talk about those countries which export defence across the world, then in that list also you will see Italy ahead of United Kingdom and even Israel.
Here you will be able to see this is the main pie chart of those countries which Defence exports are obviously US number one with 40 per cent again Off course here you will see Italy 3.8 UK South Korea Even further than Israel, look at Italy, it is a very important country and Italy made the whole world shocked when they joined China’s Bri for cheap loans. At that time, Donald Trump was the President of USA and under Donald Trump, it was believed that USA had made a big blunder that Italy, a G7 country, joined China’s Belt and Roan Project in the year 2019.