Imperialism (Italian Perspective)

It seems that all of the major powers are scrambling for some peice of land whether it be India or in Africa. It is very similar to the days when the powers scrambled for the Americas. However, then it was mostly Portugal, Spain, France, and Great Britain. Now, Portugal and Spain have fallen and Germany and the Dutch have joined in the partition of Africa. What is Italy to do? It is certainly not strong enough to imperialize others, nor would that be morally sound. The only thing it can possibly do is sit back and watch.