The EU became wary of China's infrastructure investment in Central and Eastern European countries. Hungary was forced by the EU to conduct a public tender for the Hungarian segment of the Belgrade-Budapest High-Speed Railway, which would delay the project completion until 2023.
Reconnecting Asia is tracking developments across a vast landmass that includes 60 percent of the global economy. Every day, new infrastructure projects are announced, some are advanced, and others encounter obstacles. Here is a selection of the top projects to watch in 2018.
Broad generalizations about “Belt and Road projects,” whether positive or negative, are not particularly helpful and could even be dangerous when formulating policy. A more successful approach is likely to involve nuanced and localized policies in the same way that China has adopted localized approaches to infrastructure investment under the BRI umbrella.
The political damage Chinese investment in the CEE has created for the EU is already visible in its inability to act cohesively vis-à-vis China on trademark foreign policy issues, namely upholding the international rule of law and protecting human rights.
Chinese investments in Central and Eastern Europe are raising concerns about transparency and accountability, but for now, the risks are relatively manageable given the modest scope of investment.