Monday, December 10, 2018

This Is China's Europe Strategy

Chinese President Xi Jinping meets Hungarian Prime Minister Viktor Orban ahead of the Belt and Road Forum in Beijing, China May 13, 2017. (REUTERS/Jason Lee)

Frederick Kempe, Atlantic Council: China's Europe Strategy

SCHLOSS ELMAU, GERMANY – Hungarian Prime Minister Viktor Orban recently shared some history with a friend, explaining why he reached out to China’s then-Premier Wen Jiabao in 2011, seeking urgent financial support and providing Beijing one of several European inroads in the wake of the 2008 financial crisis.

Orban’s reason was a simple one: survival. Facing a potential debt crisis and unwilling to accept austere loan conditions from Western institutions, Beijing offered a lifeline. For his part, Orban convened some Central European leaders with Beijing, and they laid the groundwork for the “16-plus-one” initiative based in Budapest that since then has provided China unprecedented regional influence.

Read more ....

WNU Editor: When Chinese diplomats and their leaders show up, they bring their checkbooks with big promises. You cannot compete against that type of foreign policy, but China has had some "screw-ups" in Europe like this one in 2013 .... China reportedly just bought 5% of Ukraine (but the Ukrainian partner denies it) (Quartz).

2 comments:

B.Poster said...

Bringing the checkbook is good assuming one has the money to actually write the big checks AND assuming one is actually getting something of value for it that is at least equal to or greater than what was spent. In the case of the US, this has not worked so well as we have ended up with huge expenditures and commitments all for little to nothing in return and to add insult to injury the big checks to get nothing in return while burdening us with major commitments were written based upon borrowed funds!! I suspect China is much smarter than we were with this.

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