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May 17, 2017

PM Orbán: Globalization is taking a new form dominated by the East

The prime minister made the comments in Beijing on Monday, where he stated that a large part of the world has had enough of developed countries lecturing it on human rights and the economy

Prime Minister Viktor Orbán has said that globalization is taking a new form now that the East has caught up with the West.

The prime minister made the comments in Beijing on Monday, where he stated that a large part of the world has had enough of developed countries lecturing it on human rights and the economy.

PM Orbán said that the global economy’s engine room is no longer in the West, but in the East. In regards to their level of technological development, Eastern enterprises are no longer behind the West, and “in fact the largest amounts of money have accumulated in Asia”, and “are now flowing back towards the West”.

The prime minister added that over the last two years, large American and European companies have been bought out by Chinese enterprises in Hungary, leading to a sharp increase in the number of Hungarian development projects that are now Chinese-owned.

Prime Minister Viktor Orbán held talks with Chinese President Xi Jinping and Chinese Prime Minister Li Keqiang in Beijing on Saturday, and several agreements were concluded between the two nations.

Peter Szijjártó, minister of Foreign Affairs and Trade, revealed that Hungary will now be involved in China's One Belt, One Road policy.

The minister said that China is regarded as an important and comprehensive strategic partner, and in his opinion new opportunities would be opening up in Hungarian-Chinese economic relations as a result.

“The Chinese President’s One Belt, One Road strategy represents a major opportunity for Europe, which the continent must exploit," Minister Szijjártó said during the One Belt, One Road international forum in Beijing.

PM Orbán also met President of Turkey Recep Tayyip Erdogan, who was also attending the One Belt, One Road forum and said that “properly maintaining” Hungarian-Turkish relations is therefore one of Hungary’s most important national security interests.

The prime minister told Erdogan that Hungary will "always show Turkey respect, especially as European security – including Hungary’s security – is greatly dependent on Turkey, because today Turkey is a stable country that is capable of preventing illegal migration”.

PM Orbán and President Putin had a long conversation on global politics and economic issues, he said, but “we had no need to discuss Hungarian-Russian relations”, because the most important issue – the Paks Nuclear Power Plant project – is moving forward well and on schedule.