Hungary cashes in on its friendship with China ( www.politico.eu )
China is Hungary’s No. 1 foreign investor, and Budapest is powering ahead in EV production.
In an open letter to Hungary that in places reads more like a love note than an official government missive, Chinese President Xi Jinping reflected on a friendship “as mellow and rich as Tokaji wine.”
As sweet as Hungary’s wine is, its partnership with China is far more profitable, both politically and economically — and it's setting up Hungary to be a dominant player in the continent's shift to electric vehicles.
Despite governing a country that has been a member of the European Union for 20 years, Hungarian PM Viktor Orbán identifies more closely with Xi than with his peers in the bloc, often bristling at European bureaucracy, rejecting its immigration and social policies, and denouncing its criticism of his government's backsliding on the rule of law.
