After Chinese President Xi Jinping visited Hungary’s the Chinese is courting Hungary with its electric and investment capitals. The Chinese policy provides economic benefits to the country as a whole. The giant BYD new building: a Chinese-owned electric vehicle factory, courtesy of BYD. “The €501 billion investment in a 300-hectare industrial park is expected to be completed in 2025 including capital investments on its economy in road networks, public utility networks, community services, technology, management efficiency and Hungarian capital markets.” The €501 Billion investment is part of bilateral Chinese-Hungarian plan. It promotes all sectors of the Hungarian economy. It gives Hungary’s strongman and nationalist leader another opportunity and motivation to block the whole European-wide agreement on how to meet the China challenge.   

The mood in the German economy unexpectedly deteriorated further in July. The IFO business climate fell by 1.6 points to 87.0 points, as the Ifo Institute announced in Munich on Thursday. Analysts, however, had expected an improvement in sentiment and had expected an average of 89.0 points.