Orbán to Borrow from China for Fudan University’s €1.5B Budapest Campus, Which Costs More Than to Run Hungary's Entire Higher Education System for a Year

A report published by the Hungarian investigative journalism centre Direkt36 on 6 April says Fudan University’s new Budapest Campus, the first European campus of the Chinese university, will cost a whopping 1.5 billion euros (around 13.9 billion HK dollars)—more than what the eastern European country spent on its entire higher education system in 2019. The project will depend mainly on Chinese loans. The report further reveals that the Hungarian Ministry of Innovation and Technology, which will supervise the project, has recommended the China State Construction Engineering Corporation (CSCEC) to be the builder with the firm indicating that a certain amount of Chinese material and labour will be employed.

The non-profit Direkt36 has gained access to a series of documents about the new campus, including a draft proposal by László Palkovics, Hungary’s innovation and technology minister. According to the proposal, the government estimates the cost to be 1.5 billion euros without taking into account the infrastructure costs and other expenses. This exceeds its entire expenditure on the country’s higher education system in 2019, which clocked in at 1.3 billion euros (around 12 billion HK dollars). It is further stated in the proposal that part of the cost will be covered directly by Hungary with the rest covered by loans from China. The China Development Bank will provide a loan of 1.3 billion euros on preferential terms.

According to Direkt36, the CSCEC made a bid of under one billion euros (around 9.23 billion HK dollars) and secured the innovation and technology ministry’s recommendation. The report says the CSCEC made it clear in its tender that a certain number of Chinese workers will take part in the project and building material will be imported from China. The report says further that the Hungarian government has decided that China shall be the sole constructor with a commissioner appointed by the innovation and technology ministry supervising the project.

Source: Stand News #Apr08

#Hungary #China #Fudan #Education #Diplomacy

https://bit.ly/3soyrBN

Never seen anyone eat avocado this way? Neither have we seen any country does diplomacy CCP's way.
#fuckccp #boycottchina #diplomacy #ccp #china #beijing #wolfwarrior #avocado #meme #english #diyms

The US supports Australia in repealing the “Belt and Road” agreement, saying Australia is the victim of China’s coercive diplomacy

Australian federal government repealed “Belt and Road” memorandum and “framework agreement” between the Victorian state government and China. The decision has caused China discontent and renewed tension between China and Australia. United Stated indicated their support to Australia’s decision on Thursday (22 April), described Australia as a victim of China’s coercive diplomacy, which borne tremendous toll.

On Wednesday (21 April), Australian Foreign Minister Payne used her powers conferred by Foreign Affairs (State and Territorial Arrangements) Act 2020 passed late last year, to cancel the “Belt and Road” memorandum and “framework agreement” between Victorian state government and China. US Spokesperson of State Council Ned Price, when asked whether US will take a similar action, or has US spoken to Australia about the move during regular press conference, responded “this is a decision made by the Australian Government”. He continued by saying that US will continue to stand with the people of Australia for the brunt of the PRC’s coercive behavior. Price said that Australia government's cancellation of agreements with China, Iran and Syria demonstrated that Australia is focused on protecting its national interest from all international concerns.

Source: Stand News #Apr23

https://bit.ly/3v6gIRD

#US #Australia #BeltandRoad #Victim #China #Diplomacy