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Hungarian FM: Chinese investments could ensure Hungary growth amid recession
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Large Chinese investments may allow Hungary to maintain growth, as an exception at a time when Europe is threatened to fall into recession, Péter Szijjártó, the foreign minister, said in New York on Wednesday, after talks with his Chinese counterpart.
Szijjártó and Wang Yi met on the sidelines of the UN General Assembly to discuss bilateral ties and major geopolitical issues, the foreign ministry said.
Since Hungary is benefitting a lot from bilateral cooperation built on mutual interests and respect, maintaining that cooperation is in Hungary’s national interest, Szijjártó said. China will be the largest investor in Hungary in 2022, as it was in 2020, Szijjártó said, noting Chinese battery maker CATL’s recently announced 3,000 billion forints (EUR 7.5bn) investment in eastern Hungary, the largest investment ever in the country.
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Szijjártó said that Wang had reassured him that China valued Hungary’s stable political-economic status and competitive investment environment. Hungary will therefore encourage Chinese companies to consider the country a European economic bridgehead for their further investments. He noted a record volume of bilateral trade last year, adding that its volume had already increased by more than 7 percent to a total of 6.5 billion dollars in the first six months of 2022.
Don’t know why Szijjarto always keeps on about “mutual respect” between China and Hungary. China respects no one, it moves in on failing economies and makes that particular country (in this case Hungary) completely dependent on it.
All we get stuck with is a load of over priced dud vaccines.