Hungary is a primary target for Chinese investments in Central Europe!
Chinese-owned automotive industry company S.E.G.A. Hungary inaugurated a production hall in Szirmabesenyo, in north-eastern Hungary, and announced a new R+D project on Thursday, in a ceremony attended by Foreign Minister Péter Szijjártó.
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S.E.G.A. Hungary will make starters and generators at the base near Miskolc.
In his address, Szijjártó said the state was supporting the 4.5 billion forint (EUR 12.4m) investment programme, which
In his address, Szijjártó said the state was supporting the 4.5 billion forint (EUR 12.4m) investment programme, which
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would create 40 jobs for engineers as well as preserve the company’s 1,426 workplaces,
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with a 1.3 billion forint grant.
Szijjártó said that the government’s eastern opening strategy had “clearly proved a success”, making
Szijjártó said that the government’s eastern opening strategy had “clearly proved a success”, making
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Hungary a primary target for Chinese investments in central Europe.
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He said that while in 2019 South Korea had been Hungary’s greatest investor, China took over in 2020 and “so far this year there has been a tie in the competition”.
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He said that “Hungary and the Hungarian people have profited and will profit considerably” from those relations, adding that
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China was Hungary’s 5th largest trading partner,
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the turnover of bilateral trade having increased by 21 percent in the first eight months of 2021.
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Source: MTI
Old Chinese Proverb: He who we help a little today pays very big price tomorrow.
China has given the world a pandemic. They then step in and take over (sorry I mean invest) in the countries whose economies are weakened because of covid. There’s irony in there somewhere.
History – if Hungary don’t want to pay any attention to the Chinese way of investment into a country , it is to there Peril they will decend – that could be Perilousness.
History never lies and the Chinese are likened to Jackals that circle wait and tease, wear down there pray – and when the pray tires – they pounce and grab all the pickings.
@Norbet as opposed to the US who stole German scientists to build its rocket program? Or how the US stole British technology during the industrial era to kickstart its campaign to become a major player?
Let’s not kid ourselves that what China is doing isn’t any different from how previous superpowers got their start. In fact, it makes sense for Hungary to develop a decent relationship with China, especially when China has been making major inroads in the Middle East and Africa.