Between the West and the China something is changing and the distances with Beijing, although still large, are closing a little. China is not nearby, unlike a beautiful film by 1967 Marco Bellocchio, but it is less distant than some time ago. The second Chinese visit in a few months by the US Treasury Secretary, Janet Yellen, and, in its small way, the meeting of the Italy-China Commission the other day in view of the Prime Minister's next trip to Beijing Giorgia Meloni they testify that something is moving. It's not a bed of roses and Yellen's mission was obviously not enough to convince the Chinese to reduce their high tech production capacity, just as Meloni's visit will not be a walk in the park. But the rapprochement is in things because, as the brilliant Bocconi economist explained in "la Repubblica" Giorgio Barba Navaretti “business is business” and “a West without China and a world divided into two commercial and economic blocs is too expensive an option to truly realize” because “a large part of the world economy will continue to revolve around the Asian giant” and commercial interdependence “is unavoidable”. The costs of a breakup would be devastating and it is no coincidence that the International Monetary Fund has calculated that, if this unfortunately happened with a repositioning of production outside China, the United States andEurope they would lose between 2 and 4% of GDP and for Beijing it would be even worse. It can not be done. The rapprochement is welcome.
China returns closer: business is business. The costs of a breakup are unsustainable
Something is moving between China and the West and the distances are reducing: it is mutual interest but it is also a good thing. Yellen's double trip and Meloni's next visit