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Hungary’s Strategic Partnership with China Forges Technological Innovations

Hungary Today 2024.05.08.

Péter Pál Kránitz, a senior researcher at the Hungarian Institute of International Affairs, underscores China’s evolution from a producer of imitations to a global leader in research, development, and the application of cutting-edge technologies, writes Világgazdaság.

The China-Hungary Technology Transfer Center epitomizes Hungary’s aspiration to glean insights from the East. Notably, the Sino-Hungarian Food Science Research Center, operational since 2017, embodies the close collaboration, particularly in the food industry.

China’s economic metamorphosis is profound. It has transitioned from being the “world’s assembly plant” to a vanguard of innovation, ranking 13th in the Global Innovation Index of 2023. This transformation, buoyed by robust governmental support, is reflected in various sectors, notably renewable energy.

Chinese dominance in technologies pivotal for green transitions, like electric cars and battery production, underscores its global influence.

Yet China’s rapid development unnerves some. Its strides in renewable energy, infrastructure, and space exploration underscore a shifting global power dynamic, with China challenging US hegemony. The United States responds with protectionist measures, seeking to maintain its competitive edge.

Hungary’s foreign policy champions connectivity and open economic relations over bloc-building. An inclination towards the East, exemplified by South Korea’s significant investments, underscores Hungary’s pragmatism in embracing diverse economic partnerships. The nation acknowledges that learning from the East complements its ambition to foster a diversified economy, exemplified by the Sino-Hungarian Technology Transfer Center’s role in mutual industrial development.

Collaboration spans in diverse sectors, facilitated by joint research projects and workshops across Chinese provinces.

Notable successes include wastewater system renovations and the establishment of the China-Hungary Food Science Research Center, fostering collaboration in agricultural and food sciences.

A flagship initiative is the Hungarian-Chinese Fruit Brandy Research Laboratory, bridging cultural divides through innovative products like “chinka,” a fusion of Hungarian pálinka (fruit brandy) and Chinese distillation traditions.

This exemplifies the center’s role in fostering cross-cultural innovation.

Looking ahead, the center aims to explore collaboration in the electric vehicle industry, pharmaceuticals, and healthcare sectors. Additionally, it seeks to bolster the presence of Hungarian biomedical products in Chinese markets.

Hungary’s embrace of Chinese collaboration underscores a pragmatic approach to economic development, prioritizing mutual benefits and technological advancement. As global power dynamics continue to shift, such partnerships serve as pillars of resilience and innovation in an increasingly interconnected world.

Economic Relations with China Have Reached a New Level
Economic Relations with China Have Reached a New Level

Minister Mihály Varga met with his Chinese counterpart in Beijing.Continue reading

Via Világgazdaság; Featured Image: Pixabay

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