Daily Management Review

Malta considers joining Chinese Belt and Road


03/13/2019


Malta has become another member of the European Union which is considering the possibility of joining China’s large-scale infrastructure initiative “Belt and Road”.



foxypar4 via flickr
foxypar4 via flickr
“Certain prejudices” should not interfere with good business, said Malta’s Minister of Finance Edward Scicluna in an interview with CNBC.

“We should be wary of any country, especially with political ambitions or any ambitions, but this is life,” he said. "You have to be careful, but this does not mean that you say no to any business... Any country needs diversification in order i to survive and be competitive, especially such a small country as we are," said Scicluna.

Beijing’s trade and infrastructure initiative “Belt and Road” is designed to connect more than 60 countries in Asia, Europe, Africa and the Middle East by land and sea routes. In addition to increasing trade and investment, China seeks to stimulate exchanges in areas such as science, technology, culture and education.

Earlier, it was reported that Italy planned to sign up a paper to become part of the Chinese initiative later this month.

Rome’s plans sparked a harsh responce from Washington. US stated that the project won't probably help the European country's economy. Other European countries, namely Greece and Portugal, also support Beijing’s efforts.

Pierre Moscovici, Commissioner for Economic and Financial Affairs, said that Italy’s priority should be to improve its industrial potential. "Member States [of the EU] can pursue their own policies... but I think that China is also an asset, a partner; this can also be a problem if it acts too aggressively," said Moscovici. "But with regard to Italy, my opinion will be somewhat different, this country should strengthen its industrial base... should strengthen its competitiveness," he added.

source: cnbc.com






Science & Technology

China is developing technology to capture greenhouse gases

IEA: The growth of renewable energy is slowing

Google introduces new smartphone and beta Android Q

SpaceX’s Dragon Crew Capsule Test Met With Anomaly

New Security Study Finds Millions Use 123456 As Password For Email Accounts

The Devastating Panama Disease Could Spell Extinction For Bananas

Walmart to hire 4 thousand robot cleaners

Samsung Galaxy Fold: Expensive but fragile

USA and South Korea launch the first commercial 5G networks

Deliveries of AR/VR devices to grow by 54% in 2019

World Politics

World & Politics

The Earth Is ‘Not On Track’ To Tackle Global Warming: The U.N. Secretary General

Is Finland’s aging population turning the country into Japan?

The United States will impose new duties on Chinese goods on Friday

Jyrki Katainen: EU is not a milk cow

Oil lobby and the planet's future

Trump files a lawsuit against Deutsche Bank and Capital One

Trump Urged Abe To Influence Japanese Auto Firm To Produce More Vehicles In The U.S.

IEA: Iraq will enter the top three oil leaders