The superior intent of Xi Jinping's three-day sojourn to Hungary mightiness beryllium to guarantee that Hungary tin thief China summation marketplace stock successful nan EU, arsenic Beijing and Budapest hole to motion a full of 16 bilateral agreements.
The Chinese president has arrived successful Budapest early Thursday, nan 3rd and past extremity of his European visit.
During his three-day stay, Xi Jinping and his delegation are expected to reason a bid of economical agreements pinch Budapest, as China sees Hungary arsenic an important bridgehead successful conquering European markets: among different things, Chinese companies are building electrical car and artillery factories.
The 2 sides are expected to motion 16 agreements, while different 2 are still being negotiated. The deals see Hungarian infrastructural developments and railway, roadworthy and power projects related to Beijing's top-priority Belt and Road Initiative.
Renovation activity is underway connected nan Budapest-Belgrade railway line, 1 of nan symbols of China's economical description successful Hungary: 85% of nan finance is covered by Chinese loans.
With Hungary and Serbia's cooperation, nan modernised railway meant to beryllium a portion of nan planned Budapest–Belgrade–Skopje–Athens railway would thief Chinese equipment scope Western Europe from nan Greek China-run larboard of Piraeus faster than ever.
The railway has been sharply criticised since its inception. Earlier successful 2023, questions were raised astir whether nan imported exertion needed to run it complies pinch EU standards.
Other critics person pointed retired it bypasses each awesome Hungarian cities; nan Chinese in installments for its building mightiness return an full period to salary backmost successful full, while nan finance return is nether question.
It's (almost) each astir nan money
Personal interests besides play a domiciled successful nan immense investments, world relations and Hungarian authorities expert Csaba Káncz told Euronews.
"In nan lawsuit of Hungary, we are talking astir nan astir corrupt personnel authorities of nan EU. Just for illustration pinch Russia, nan Hungarian authorities has entered into immoderate benignant of a 'strategic corruption' model statement [with China]. With Russians, we cognize that this is ... overpriced gas," Káncz said.
"With nan Chinese, it's nan Budapest-Belgrade railway line, from which nan authorities ... tin return retired respective cardinal euros a year."
According to Káncz, it's not conscionable astir axenic investment, and Xi is besides visiting Europe arsenic a information argumentation ally.
"Hungary has already go an charismatic personnel of nan alleged 'peace camp', nan aforesaid bid campy from nan 1950s [during nan Cold War]. We are talking astir revisionist, pro-war powers, Russia, China, Iran," he said.
"In practice, China has now go nan 'alpha male' of nan Eurasian axis. It is nan ascendant power, it has nan money and exertion and present it is connected a sojourn to its caller colony," Káncz concluded.
Meanwhile, EU officials person already stated they are looking to limit China's economical aspirations successful Europe.
The European Commission has launched an investigation into Chinese authorities subsidies for manufacturing electrical vehicles and star panels, accusing nan Beijing activity of distorting marketplace competition.
Watch nan Euronews study connected Chinese President Xi Jinping's sojourn to Hungary above.
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