Italy in race to destroy (4)
I believe the answer is:
ruin
'destroy' is the definition.
(synonyms)
'italy in race' is the wordplay.
'italy' becomes 'i'.
'in' indicates putting letters inside.
'race' becomes 'run' (synonyms).
'i' inserted into 'run' is 'RUIN'.
'to' is the link.
(Other definitions for ruin that I've seen before include "Building remains" , "fall" , "Defeat" , "financial hardship" , "building now demolished" .)