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Home»Investments»President Xi’s visits to Hungary and Serbia provide fertile ground for China’s expansion into Europe
Investments

President Xi’s visits to Hungary and Serbia provide fertile ground for China’s expansion into Europe

prosperplanetpulse.comBy prosperplanetpulse.comMay 14, 2024No Comments1 Min Read0 Views
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BUDAPEST, Hungary (AP) — When Chinese President Xi Jinping visited Hungary last week, he arrived in one of the few places in the European Union where the country is seen as an essential ally rather than a rival.By the time he left on Friday, he secure transaction It provides fertile ground for China’s European economic expansion plans.

After meeting with nationalist Prime Minister Viktor Orbán on Thursday, the two leaders addressed a small group of selected media in the Hungarian capital Budapest, announcing the launch of an “all-weather partnership” that ushered in a new era of economic cooperation. announced its formation.

FILE - Chinese President Xi Jinping, left, watches the guard of honor with his Serbian counterpart Aleksandar Vučić during a welcome ceremony at the Serbian Palace in Belgrade, Serbia, Wednesday, May 8, 2024. Most countries in the European Union

Chinese President Xi Jinping (left) looks on at the honor guard with Serbia’s Aleksandar Vučić during a welcome ceremony at the Serbian Palace in Belgrade, Serbia, Wednesday, May 8, 2024. (AP Photo/Darko Vojinovic, File)

FILE - Chinese President Xi Jinping (left) speaks during a joint press conference with Hungarian Prime Minister Viktor Orbán after talks at the prime minister's office in the former Carmelite monastery in Budapest, Hungary, on Thursday, May 9, 2024. The coalition is working to

Chinese President Xi Jinping (left) speaks during a joint press conference with Hungarian Prime Minister Viktor Orbán after a meeting at the Prime Minister’s Office in the former Carmelite Monastery in Budapest, Hungary, Thursday, May 9, 2024. (Szilard Koštisak/MTI, via AP)

Most EU countries are taking steps to: “Remove risk” from the economy Recognizing the Chinese threat, Hungary has gone in the opposite direction, inviting major Chinese investment in the belief that the world’s second-largest economy is vital to Europe’s future.

Mr. Xi and Mr. Orbán did not reveal any specific agreements after their meeting, but Foreign Minister Péter Szijjártó later said in a video that they had agreed on a joint Hungarian-China railway bypass around Budapest and a high-speed rail link between Hungary and China. stated that it had reached. The capital and its international airport.

Prime Minister Orbán said the two countries agreed to expand cooperation in “all areas” of the nuclear industry, including China’s support in building a network of electric vehicle charging stations in Hungary and an oil pipeline between Hungary and Hungary. An agreement has also been reached on the construction of a Serbia.

Zussanna Veg, a program assistant at the German Marshall Fund and a visiting fellow at the European Council on Foreign Relations, said that these agreements would help “China see Hungary as an important and reliable ally” within the EU, which is trying to reverse Europe’s position. “This is a clear sign that they are being treated as such.” Strengthen risk aversion policies.

Begu said in a statement that Xi’s visit was a sign that the Hungarian government is “indifferent to the concerns of its allies and is trying to engage with China in order to position itself to an advantage in what it perceives to be a developing, multipolar world.” “We continue to strengthen bilateral relations,” he said.

Hungary’s southern neighbor Serbia is pursuing a similar strategy. offered a wide range of opportunities This is to enable Chinese companies to develop natural resources and carry out large-scale infrastructure projects.

Like President Orbán, Serbian President Aleksandar Vučić has created an autocratic form of governance that eschews the pluralism valued in traditional Western democracies, with opaque direct transactions aimed at eliminating bureaucracy. This makes both countries attractive to China.

When President Xi visited Serbia last week, he and Mr. Vučić met. signed the agreement Aimed at building a “common future”, the Balkan country became the first country in Europe to agree such a document with the Chinese government.

FILE - Chinese President Xi Jinping speaks during a joint press conference with Hungarian Prime Minister Viktor Orbán after talks at the Prime Minister's Office in the former Carmelite Monastery in Budapest, Hungary, Thursday, May 9, 2024. Most countries in the European Union are working to

Chinese President Xi Jinping speaks during a joint press conference with Hungarian Prime Minister Viktor Orbán after talks at the Prime Minister’s Office in the former Carmelite Monastery in Budapest, Hungary, Thursday, May 9, 2024 (Szilád Koštisak/ MTI, via AP, file)

Vuk Vuksanovic, a senior fellow at the Belgrade Center for Security Policy, said President Xi’s interest in Serbia reflects his strategy to appeal to countries less involved in the U.S.-led economic and political community. Ta.

Mr. Vuksanovic said Xi’s “shared destiny” agreement with Belgrade was a sign of “China’s vision of an international order, a world in which China is far more powerful and where Western countries, primarily the United States, no longer have the ability to set the agenda.” It promotes order.” to others. ”

China has poured billions of dollars into investments and loans to Serbia, particularly in the mining and infrastructure sectors. The two countries signed a strategic partnership agreement in 2016 and a free trade agreement last year.

Serbia officially wants to join the 27-nation European Union, but it is gradually moving away from that path, and some of its agreements with China are not in line with membership rules.

Vucic is Friendship with Russian President Vladimir PutinHe blames it. Russia’s full-scale invasion of Ukraine However, it refused to join international sanctions against Moscow.

FILE - Tourists stand under the Chinese and Hungarian flags on the Elisabeth Bridge on Wednesday, May 8, 2024 in Budapest, Hungary. Most countries in the European Union are trying to

Tourists stand under the Chinese and Hungarian flags on the Elisabeth Bridge in Budapest, Hungary, Wednesday, May 8, 2024. (AP Photo/Denes Erdos, File)

FILE - Chinese President Xi Jinping (center left) and Serbian President Aleksandar Vucic (center right) greet a crowd as they arrive at the Serbian Palace in Belgrade, Serbia, on Wednesday, May 8, 2024. efforts to

Chinese President Xi Jinping (center left) and Serbian President Aleksandar Vucic (center right) greet a crowd upon arrival at the Serbian Palace in Belgrade, Serbia, Wednesday, May 8, 2024. (AP Photo/Darko Bandic, File)

of Red carpet treatment This policy by Serbia and Hungary has concerned some of their Western partners, who see Chinese incursions into the region as both economic and security risks. Gabriel Escobar, the US special envoy for the Western Balkans, said Xi chose to visit neighboring countries because he is “open to challenging the cohesion of the Euro-Atlantic community.”

“I caution all our partners and all our interlocutors to be fully aware of China’s aims in Europe,” Escobar said last week.

in Hungary in February followed Serbia’s lead The security agreement with the Chinese government will allow Chinese law enforcement officers to assist their Hungarian counterparts in police operations within Hungary.

The government said its officials would ensure security for Chinese tourists and the large Chinese diaspora in Hungary. But critics say the officials could be used to control Chinese society as an extension of Mr. Xi’s one-party state.

Mr. Orbán will deepen his relationship with the Chinese government, and Long-term dispute with the EU Billions of dollars in structural funds were frozen in Budapest over concerns that the president had seized control of democratic institutions and misused the bloc’s funds.

There is no sign that that money will arrive any time soon, and Hungary’s pursuit of further development by China means that the government has “envisioned the possibility of financing such strategic infrastructure projects from EU funds.” Begg wrote:

FILE - Chinese President Xi Jinping watches the exchange of documents after the signing of the agreement at the Serbian Palace in Belgrade, Serbia, Wednesday, May 8, 2024. Most countries in the European Union are trying to

Chinese President Xi Jinping watches the exchange of documents after the signing of the agreement at the Serbian Palace in Belgrade, Serbia, Wednesday, May 8, 2024. (AP Photo/Darko Vojinovic, File)

While the influx of Chinese capital is a boon for Hungary, Sputtering economicslocating production within the EU also helps Beijing avoid high tariffs and Europe’s increasingly protectionist policies.

In December, Hungary announced that China’s BYD, one of the world’s largest EV manufacturers, would open a factory there. Europe’s first EV production factory Located in the southern part of the country, it has attracted large-scale direct investment in the production of EV batteries.

Prime Minister Viktor Orbán said on Thursday that these investments are what will keep Hungary competitive in the future, wherever it goes.

“The concept that drives Hungarians is that we want to win the 21st century and we don’t want to lose,” he said.

___

Jovana Gec contributed to this report from Belgrade, Serbia.





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