Who knew Hungary has an entire shopping centre devoted to Chinese-owned businesses? Der Standard reports on the “Asia Centre” in the 16th district of Budapest, home to a community that has made Hungary the biggest entrepot for Chinese goods in central Europe. Last year, $4bn of Chinese exports entered Hungary, of which two-thirds was re-exported. The centre is 90 per cent utilised and is going to expand. Not entirely surprisingly, its owners are the Austrian construction group Strabag and the Austrian mutual banks’ investment arm, Raiffeisen Investment AG.
Apparently, there may be as many as 60,000 Chinese in Hungary, the flourishing legacy of a botched late-communist trade agreement. In order to keep up appearances after the two sides failed to agree anything substantive, they ended visa requirements between China and Hungary. This came into its own a year later, when large numbers of people quit China after the Tiananmen Square massacre and arrived in a Hungary that was about to be the first mover in the wave of revolutions. Originally, their businesses shot out of the ground around the eastern railway station’s freight yards. Later, the Austrian investors built the new centre.
It’s striking that they will be very well placed if this railway project comes to fruition.
On the other hand, there’s a fist. JÃ¶rg Haider’s election posters this time around carried photos of two “violent Chechens”, whose access to social services was then cut off. They haven’t been accused of an offence, and neither does the Klagenfurt police know of any case involving a Chechen.