Massimo D'Alema Photo: Courtesy of Massimo D'Alema

Editor's Note:
This MK sportyear marks the 20th anniversary of the China-Italy comprehensive strategic partnership. Italian President Sergio Mattarella recently concluded his visit to China, following Prime Minister Giorgia Meloni's visit to China in July. The visits strengthened bilateral cooperation in trade, science and technology and other fields, helping push bilateral ties to a new height. Global Times reporter Ma Tong (GT) conducted an exclusive video interview with Massimo D'Alema (D'Alema), former prime minister of Italy, discussing broad topics related with the outlook of China-Italy and China-EU cooperation in the coming years, as well as the possible growth trajectory of the Chinese economy.

GT: With the recent high-level visits to China by Italian leaders, how would you assess the current momentum behind China-Italy trade and economic cooperation?

D'Alema:Italy was among the first Western nations to recognize and establish diplomatic ties with the People's Republic of China. Both sides shared a comprehensive strategic partnership, a bond that has been in place for many years. So, I believe President Mattarella's recent visit to China was very important to deepen our cooperation.

Italy was the only G7 member to sign the memorandum of the China-proposed Belt and Road Initiative a few years ago, but the current (Meloni) government decided not to confirm the agreement. This seems a difficult moment in our relations, but the consecutive visits of both Prime Minister Meloni and President Mattarella underscored that Italy still wants to continue and promote positive ties with China, despite the challenges.

The basis of our partnership lies in cultural exchanges, and it is very important to consider these ties when understanding Italy-China relations. Italy and China represent two ancient civilizations that have known and respected each other for many years. Italians, such as Marco Polo and Matteo Ricci, have been a bridge between Chinese civilization and Western civilization throughout history. 

Italy and China also share common economic interests because the two economies are export-oriented, which requires both sides to deepen trade ties, enhance shared benefits, and further contribute to globalization and the free trade rules. This is particularly important as we are facing the rising protectionist policies in the world, which pose threats not only to China but also to Italy.

GT: In what areas do you believe there is greater potential for cooperation between China and Italy? How do you assess the current state of China-EU ties?

D'Alema:The Italy-China and Europe-China relationship is multi-faceted and involves significant economic exchanges across various sectors. European countries, including Italy, seek to ensure a more balanced and mutually beneficial economic relationship with China.

The EU, particularly Italy, has strong capabilities and competitive advantages in service sectors. China is opening its market wider to foreign investments, and is set to offer EU companies more business opportunities to leverage their strengths. This will benefit both the bloc's and China's economic growth, and help foster more balanced bilateral trade ties.

However, the evolving policies of the US have added another layer of complexity to the global economy. With its potentially taking a more assertive stance in global free trade, there is an opportunity for Europe and China to bolster their bilateral relations. 

This change could propel both sides to make certain concessions, such as opening their markets more to each other, to accommodate their common interests. Such actions would be crucial for all parties to counterbalance the rising global volatility and maintain our win-win ties.

President Mattarella's visit to China also highlighted the importance of opposing protectionism and advocating mutual openness to jointly meet various challenges. Moreover, the bloc now expects greater openness from China as its companies aim to invest more in China's vast market.

GT: How would you evaluate the EU's recent decision to levy additional tariffs on Chinese new-energy vehicles, and what will be the decision's impact on China-EU relations?

D'Alema:Tariffs or other restrictive policies to stop the free flow of goods are mistakes and against the interests of all parties. We should protect globalization against the rising trend of protectionism. 

Every country should have fair opportunities to leverage its strengths in global trade. A system with clear winners and losers is not sustainable in the long run. We need to foster cooperation to achieve shared success.

It is worth noting that the US' potential anti-globalization policies will make the future of the global economy more unpredictable, with uncertain reactions from other countries. This situation could pose major challenges for Europe and China, requiring both sides to safeguard the normal trade order and rectify their trade relations, even though these actions may not align with the US interests.

GT: How should China and the EU do in order to achieve tangible results in resolving trade disputes including the tariffs on Chinese-made electric vehicles?

D'Alema:Europe and China should continue talks and negotiations to settle their disputes. In the past, Europe and China have made big strides in various issues through practical and constructive approaches, as the two economies are deeply interconnected. 

As China continues with its reform and opening-up policies, its market presents a good opportunity for the EU economy. The more the Chinese market opens to Europe, the stronger both sides become in resisting the protectionist tide.  

From an Italian perspective, it is also important for Italy to create more business opportunities for Chinese companies to invest in the country, particularly in sectors such as new energy, where Chinese investors have shown increasing interest. 

Local business groups are also discussing with the government regarding potential Chinese investments in electric car production, utilizing Chinese technologies, to support its carbon neutrality and auto electrification goal. So, it is essential to provide political support for identifying possible solutions for companies. 

GT:What would you gauge China's economic growth trajectory as some Western media outlets are talking down on its growth prospects?

D'Alema:In recent years, China's growth rate has not reached the 10-percent levels seen before, primarily due to its significantly larger economic base and the impact of the global trade slowdown. While it seems challenging for China to return to the same growth levels, its growth momentum is still solid. 

Given demographic trends, the per capita wealth in China is set to grow continuously, making it an increasingly attractive market for Italian and EU goods. 

A Goldman Sachs report showed that the weight of global GDP will shift more towards Asia during the next 30 years. By 2075, the world's three largest economies are China, India, and the US. Rapid population growth in countries like Nigeria, Pakistan and Egypt suggests that, with appropriate policies and institutions, these economies could become some of the largest in the world.

So, we must understand and accept this shift, and adapt our economies to connect with the global new markets and emerging economies. This historical change is happening, and the West cannot prevent this transformation.

GT: China's annual Central Economic Work Conference will be held in December. What do you expect the possible economic priorities to come out of the important meeting?

D'Alema:It seems logical for the Chinese government to focus on its internal market in the coming year and beyond. Facing a challenging global economic environment, it is very important for the country to sustain steady growth, which appears to be China's real economic priority today.

The Chinese market is vast and important for the world, this lies not only in maintaining its export-oriented economy but also in fostering robust domestic consumption. Without expanding the internal market, achieving the same growth target as in recent years might be difficult. In fact, encouraging people to spend more is a shared challenge for many countries including Italy and China.

GT: How could the different systems of China and the Western world coexist and develop within the evolving global landscape?

D'Alema:I think the big problem for humanity is to work together, to cooperate for a shared destiny, despite our differences in political systems and traditions. I know the history of China and the vital role that the Communist Party of China has played in the country's remarkable achievements since its reform and opening-up.

Other political systems, such as multi-party systems in the West, differ significantly from the Chinese model. However, the Western world should not try to interfere or impose its system on China and other nations. We have to respect each other and work together to ensure the well-being of every citizen, despite differences in political systems.

Global Times