Hungarian Conservative

Xi Jinping’s visit to Europe—the first in five years—is expected to be mainly business. The Chinese president is coming primarily to conclude new deals in the three countries he visited: France, Serbia, and Hungary. According to Carlos Roa, a guest researcher at the Danube Institute, Western analysts view the visit of the large Chinese delegation with concern for this very reason, as the trip seems more like a geopolitical signal.

An interview with US geopolitical analyst and Visiting Fellow at the Danube Institute Carlos Roa on the challenges of the EU, keystone states, the dangers of decoupling, and the ideological reading of the Russo–Ukrainian war.

Hungary as a small country does not make decisions for global order as a whole, but it has a unique message for many other small and medium-sized countries that are in the same situation as Hungary, with the same interests in openness to other countries, connections with other countries, their existing alliances, and which also have an interest in preserving their culture and identity, Gladden Pappin suggests.

‘There is also a way to deal with the world’s largest economy, for the US Dollar (USD) is not going to decline anytime soon. Those who claim that the USD is in decline often argue that for centuries, reserve currencies have risen and fallen in tandem with their home economies. As the US’ share of the global economy diminishes, economists argue, so too will the USD and its global hegemony. A fascinating yet hardly conclusive argument since there has never been a dominant global reserve currency prior to the USD. Quite the contrary, the USD is the only currency ever to have played such a pivotal role in international commerce.’