China pitches belt and road to ‘illiberal’ Hungary as Beijing’s links with Moscow sow suspicion in Europe
- China’s increasingly close ties to Russia, its hardline on Taiwan and escalating technology disputes with the West are hurting its standing in Europe, experts say
- Analysts say European attitudes towards the Belt and Road Initiative are no longer as favourable as they once were, and the investment climate is becoming colder
China has urged Hungary to deepen its involvement in the Belt and Road Initiative, but analysts say Beijing’s support for Russia and growing pro-Western sentiment in Europe have soured the continent’s feelings about the global infrastructure programme even if Budapest steps up its commitments.
China’s top diplomat Wang Yi told Hungarian trade and foreign affairs minister Peter Szijjarto in Budapest on Monday that China was ready to “elevate their cooperation on building the belt and road projects to a new level”, the state-backed Xinhua News Agency reported.
After Wang’s visit, the foreign minister said he had “high hopes for future cooperation” and called his country a top spot for Chinese investment, which is worth more than US$1 billion annually.
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China-funded infrastructure across Africa force difficult decisions for its leaders
President Xi Jinping’s trademark Belt and Road Initiative aims to deepen China’s influence and economic integration with the world through a network of infrastructure projects worth more than US$1 trillion. Cooperation documents have been signed with 149 countries since its launch a decade ago.