Updated: May 12
Analogous to China’s opening up to the West in the 1980’s under Deng Xiaoping, Hungary has opened up to the East ever since 2010. With over 60% of FDI (Foreign Direct Investment) coming from both China and South Korea, Hungary is on its way to becoming an economic powerhouse once again within Europe pioneering industries like electric vehicle batteries and automotive components. With business and economic initiatives like the Cooperation between China and Central and Eastern European Countries (China-CEE 16+1) , Belgrade-to-Budapest Railway, to the signing of the BRI (Belt and Road Initiative) in 2016, Hungary has adeptly positioned itself to be self-sufficient regardless of Western political extortion.
Hungary is on it’s way to becoming an economic powerhouse once again
More recently, China has invested 7.6 billion euros in Debrecen in the largest ever investment project in Hungary signed with Chinese battery producer Contemporary Amprerex Technology (CATL). As a result, this will add 9000 jobs into Hungary which supplements the already 86,881 job vacancies within Hungary.
Photo: from MTI and Daily News Hungary
Above: Dr. Lajos Barcsa Deputy Major of Debrecen and Virag Koc signing the investment agreement with Junwei Chen General Manager of International Business Development CATL.
One of the main reasons Hungarian Prime Minister Viktor Orbán has “opened up” to the East in 2010 is because of the instability the West has brought upon the whole of Europe ever since the Great Recession of 2008 caused by Wall street’s immoral speculation of MBS (Mortgage Backed Securities) and Credit Default Swaps (CDS) and Washington’s inability to regulate predatory lending which targeted low-income homebuyers. As a result, this caused the biggest cataclysmic economic downturn ever in the history of the world next to the Great Depression to which both events have been a result of excessive Wall Street speculation and western imperialism. Amusingly, the West, especially the U.S. projects the current world-wide recession onto China's current handling of Evergrande (We are still waiting on China's imminent collapse...)
...instability the West has brought upon the whole of Europe.
Furthermore, Hungary’s alliance with China goes deeper than mere economic ties. Although Hungary is a Christian nation and China is an atheists, both countries do have a population that regard marriage and traditional gender roles as sacrosanct. This is something that the leadership of Hungary sees as more in agreement with how they want to govern their country as opposed to making LGBT rights their priority. Whether that is morally right or wrong is an issue the people of Hungary must resolve themselves, not by the economic and trade threats made from the West. However, the political division and turmoil within Hungary exposes the fact that the economic elites of the West (i.e. Soros and his Open Society Foundation), forces countries to change politically and culturally against their population’s will.
Photo: from MTI-Hungary Today
Above: Prime Minister of Hungary Viktor Orbán at talks with General Secretary of CPC Xi Jingping in Beijing for the Second Belt and Road Forum for International Cooperation.
Moreover, the endless wars brought about by US and NATO which destabilized the Middle East has forced Hungary in an extremely distressing position of having to keep Middle Eastern refugees out of their borders. Simply put, the Western countries which invaded and bombed Middle Eastern countries like Syria and Yemen should be the ones responsible for the accepting refugees. However, in the typical transatlantic fashion, the burden from the maligned West shifts to neighboring CEE countries that want nothing to do with their political baggage.
Photo: From Schengenvisa News
Above: The Hungary-Serbia border with an inflow of refugees from Syria and Afghanistan due to wars waged by U.S. and NATO. 54,000 refugees stopped from crossing the border despite international and EU pressures.
Despite being a NATO and EU member, Hungary lead by Viktor Orbán has resisted the West in both its political, cultural, and economic imperialism. Although China does not invest as much into CEE as it does with Western Europe, Viktor Orbán understands that these Chinese investments do not come with the same political conditions as the funds given by the EU (European Union).
For Hungary bilateral trade with the East, especially China, is matter of national sovereignty, security, and self-determination of its people. Despite what state and oligarch controlled Western media says about China’s business and economic practices, China seems to be the only superpower that is able to put aside politics and economic coercion to help Global South and other CEE countries develop and prosper without any strings attached. It is true that there is never a free lunch, to think so would be naïve. However, with regards to dealing with the West (U.S. and E.U.) versus China, the political, cultural, and economic costs are usually the highest when dealing with the West.
China seems to be the only superpower that is able to put aside politics and economic coercion to help Global South
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