Viktor Orbán has turned Hungary into the main home for Chinese capital in Europe, capturing more than a quarter of all Chinese investment coming into the continent over the past two years.
The outsized share, including a wave of investment into EV factories, has been a fillip to an otherwise struggling Hungarian economy hit by the EU withholding about €20bn of funding over rule of law concerns.
Orbán’s challenge now is pulling off the diplomatic gymnastics required to simultaneously remain an ally to Xi Jinping and Donald Trump’s incoming administration of China hawks, while managing the threat of a chronic decline in EU funds.
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