Twenty-seven of the 28 national EU ambassadors to Beijing have compiled a report that sharply criticizes China’s “Silk Road” project, denouncing it as designed to hamper free trade and put Chinese companies at an advantage, Handelsblatt has learnt. Only Hungary’s ambassador refused to sign the paper.
According to the report, the One Belt One Road project “runs counter to the EU agenda for liberalizing trade and pushes the balance of power in favor of subsidized Chinese companies.”
EU officials said China was trying to divide Europe to strengthen its hand in relations with individual member states. Countries such as Hungary and Greece, which both rely on Chinese investment, have in the past shown they’re susceptible to pressure from China, Handelsblatt writes.
It’s not the first time Hungary is protecting China, Hungarian news site Index.hu reminds. In 2016, together with Croatia and Greece, Hungary blocked a common EU response to this week’s international arbitration panel ruling on the South China Sea.