Hungarian Foreign Minister and Foreign Economic Relations Minister Péter Szijjártó called the attempt by German Foreign Minister Annalena Baerbock to sever economic cooperation between Europe and China insane on September 28 at an investment conference.
“There is now another insanity, led by the German foreign minister, on how to isolate the Chinese and European economies from each other,” Szijjártó said. According to him, this would be a fatal blow to the EU economy. He stressed that his statement was not political, but was the result of mathematical calculations.
The minister also spoke out against sanctions against Russia, which, according to Szijjártó, are destroying the EU economy.
“We in Europe are currently on the wrong path, given that Europe is going through a particularly difficult time when the world economy is completely changing,” the foreign minister said.
According to the minister, the competitiveness of the European continent is at an all-time low. The reason for this decline is the decisions of those leaders who rely on political, rather than economic, assumptions. As an example of such decisions, Szijjártó cited the severing of business ties with Russia and the imposition of sanctions against it.
“First they shot the European economy in the leg, then in the knee, and now they are slowly shooting it in the lungs,” Sijjarto noted.
The minister said that against the background of the current European policy, the idea of Baerbock to isolate the Chinese and European economies from each other looks insane.
“This would be a death blow to the European economy, and this is not a political statement, it is elementary math,” the Hungarian foreign minister said.
Szijjártó reminded that Hungary has a businesslike approach to working with China. If Budapest does not cooperate “with the fastest growing economy in the world,” it will miss out on a huge number of growth opportunities. The minister added that the Hungarian authorities consider the eastern strategy to be fully justified.
“Last year, 48% of investment in Hungary came from the East, 42% from the West, and Hungarian companies accounted for 10%,” the minister added.
Earlier, the minister also said that the anti-Russian sanctions policy has caused serious damage to the EU economy, and breaking business contacts with China will send it into a complete knockout. At the same time, Szijjártó specified that the volume of bilateral trade between the EU and China is about €875 billion a year.
Earlier, Baerbock stated the need for the EU countries to reduce the risks from China. She also explained that there is no talk of severing ties with China, as it is impossible in today’s world order. However, Europeans “must be able to protect themselves,” Baerbock added.
Source: Rossa Primavera News Agency