Taking your last question first, what many students do is write one essay which they then adjust to suit each university or program to which they apply. When adapting your personal essay to suit each school, be sure to note something specific about that school or program that attracts you and at least one reason why you are an especially appropriate candidate to that school or program.
Turning to your essay, this is a good start but needs a lot of work before it will be ready. Let's get the substance and style right first before fine-tuning the grammar and punctuation.
Your introduction is weak. "There are many reasons" is a passive and vague phrase. Instead, start with a strong statement about yourself or your desire to study economics and business in Amsterdam. I like what you say about wanting to live in and feel our fast-paced world, so that might be a good place to start. Or you could start with the memory of watching that skyscraper rising into the sky in only 10 months.
Yes, now that I think about it, that would be the place to start, with you watching the skyscraper soaring into the sky and wanting to be a part of that fast-paced world. From there, you can back-track to tell about your experiences in China and your wish to continue your path of study abroad.
Next, you will need to make your tone a little more formal. This:
So why not studying in Italy, maybe in an English-taught programme? First of all because, like I already said,
is too informal and also raises a question that is of concern to you, perhaps, but not to those reading your letter. Instead of arguing against the alternative, simply state the positive reasons why you wish to study abroad in general and in Amsterdam in particular.
Finally, you've told them why you want them. Don't forget to tell them why they should want you. What will you bring to the program that will be useful? I don't know you, but from what I've read, you will bring energy, curiosity, and experience with diverse cultures.
You'll also need to work on your grammar and punctuation, so feel free to post your revised essay for further feedback. Good luck!
Simone, EssayForum.com