Hungarian Conservative

The Eastern Opening policy has greatly enhanced Hungary’s ability to diversify its natural gas import sources and the commencement of Turkish natural gas deliveries on April 1st, 2024, will amplify this policy’s effectiveness. For further diversification, there’s an emphasized need for a firmer commitment to boost imports from Azerbaijan and Turkmenistan.

Hungarian-Chinese relations are largely about a medium-sized nation’s struggle to diversify and reduce the risk of having all of its eggs in the German manufacturers’ basket.

‘In fairness, to say that Washington, Brussels, and Budapest have some pre-existing policy disagreements is a laughable understatement. Nonetheless, the question remains: Why is Hungary growing closer to China as the West grows further away? The short answer is: it’s complicated.’

‘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.’

In his video message sent to the conference taking place in Yibin, China, Foreign Minister Péter Szijjártó praised the mutually beneficial strategic cooperation between Hungary and China, and called Hungary ‘a meeting point of Western and Eastern investors’.