China and Russia Spend Less, But Get More in Europe’s Backyard
- The two big powers gain influence in former Yugoslavia
- EU risks losing the political battle as rivals win contracts
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To get a sense of China’s influence in Europe’s Balkan back yard, check out the Serbian town of Smederevo on payday.
That’s when Sopranos Pizzeria, a short drive from the Zelezara steel mill that’s the area’s biggest employer, can’t push pepperoni pizzas out the door fast enough and traffic picks up at the clothing store Jasmina Sljukic runs on main square. Hesteel Co. invested in 2016 to keep the factory alive and the significance of the Chinese investor isn’t lost on the retailers.