Hungary’s Foreign Minister, Peter Szijjarto, has emphasized the significance of China as a strategic trade partner for the European Union (EU), stating that any attempt to diminish ties with Beijing would have disastrous consequences for the bloc. In an interview with CNBC at the World Economic Forum’s annual conference in China, Szijjarto noted that both “decoupling” and “de-risking” would be detrimental to the EU economy, referring to these actions as “suicide.”
The warning from Hungary’s Foreign Minister comes during a period when EU countries are grappling with a unified strategy on China, faced with mounting pressure from the United States to adopt a more cautious approach towards Beijing. While the US remains the top trade partner for the EU, China emerged as the leading exporter to Europe and the third-largest buyer of EU goods in 2022.
Contrary to the growing caution towards China, Szijjarto emphasized that Hungary does not perceive China as a threat and sees no reason for “de-risking.” This term was used by European Commission President Ursula von der Leyen in a speech in March, where she called on Europe to reduce its trade dependence on China.
“We look at China as a country with which, if you cooperate, you can take a lot of benefit out of it,” explained Szijjarto. He urged European leaders to adopt a more rational approach, describing the political atmosphere in Europe as “very ideological, very emotional.” The Hungarian Foreign Minister argued that treating China as a rival would be futile and result in Europe’s loss, proposing instead that leaders base their approach on rationality, common sense, reality, and pragmatism.
The differing perspectives on China within the EU highlight the challenges faced by European leaders in formulating a coherent and united policy towards the Asian economic powerhouse. While some EU member states, like Hungary, emphasize the economic benefits of close ties with China, others express concerns over issues such as human rights and intellectual property theft.
The debate over EU-China relations also poses a significant question about the future of global trade dynamics. As China continues to grow economically and assert its influence on the global stage, the EU, the US, and other major economies must navigate their relationships with Beijing carefully, considering both the opportunities and potential risks.
In conclusion, Hungary’s Foreign Minister’s warning serves as a reminder to the EU about the importance of the economic relationship with China. Szijjarto argues against adopting a confrontational stance and urges European leaders to approach China with pragmatism and rationality. The varying opinions within the EU on China reflect the complex dynamics and challenges in forming a unified policy towards the country. As China’s economic prowess increases, global powers must carefully balance their economic interests with concerns over human rights and intellectual property.
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