Reformatting the Italian Foreign Policy in the XXI Century: Withdrawal from the Chinese Initiative (BRI) and Joining IMEC

The modern world is witnessing an increasing role of international economic associations, which often become a means of fighting for political influence on the world stage. Consequently, it is necessary to realize how different states use the economic relations in rivalry for world domination. The article examines the Chinese BRI initiative and the American-Indian IMEC initiative and their interaction with other countries, using the example of Italy. The paper examined Italian-Chinese relations under China's "One Belt, One Road” Initiative, and revealed the reasons for Italy's withdrawal from BRI. A brief comparative profile between these initiatives is offered, and the Italian-American and Italian-Indian relations and their interaction within IMEC are analyzed. As a result, the following conclusions were drawn: the American-Indian initiative in future may become a counterweight to the Chinese initiative "One Belt, One Road". Italy is guided by political rather than economic realities, pursuing the strategy of its Western neighbors. Italy's stance on implementation of the IMEC new project, its economic and strategic role at the moment is currently under discussion.