Hungary and Serbia welcome Xi – and Chinese investment – to Europe’s struggling economy

When Chinese President Xi Jinping visited Hungary last week, he arrived to one of the few places in the European Union where his country is considered an indispensable ally rather than a rival. By the time he left on May 10, he’d secured deals that provide fertile ground for China’s plans of economic expansion in Europe.

After meeting with nationalist Prime Minister Viktor Orbán on May 9, the leaders addressed a small group of select media in Hungary’s capital, Budapest, announcing the formation of an “all-weather partnership” that would usher in a new era of economic cooperation.

As most EU countries make efforts to “de-risk” their economies from perceived threats posed by China, Hungary has gone in the other direction, courting major Chinese investments in the belief that the world’s second-largest economy is essential for Europe’s future.

Previous ArticleNext Article