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Chancay Port: China's Growing Influence in Peru
The opening of the Chancay port, China's first in South America, sparks debate about its economic and geopolitical implications for Peru.
German
Germany
ChinaInvestmentTradeLatin AmericaInternational TradePeruPort
Cosco Shipping PortsVolcan Compañía MineraApecCouncil Of The Americas
Xi JinpingDina BoluarteEric Farnsworth
- What is significant about the Chancay port in Peru?
- The Chancay port, located 80 kilometers north of Lima, Peru, is the first Chinese-controlled port in South America. It's a major component of China's Belt and Road Initiative, aiming to shorten shipping routes to Asia.
- What is the current state of trade and investment between China and Peru?
- The increased trade volume between China and Peru, doubled since 2009, has reached \$33 billion USD. China has also invested significantly in Peruvian mining and energy projects over the past decade, totaling approximately \$24 billion USD.
- Who are the main investors in the Chancay port, and what is the total investment?
- The port is 60% owned by the Chinese state-owned company Cosco Shipping Ports and 40% by the Peruvian company Volcan Compañía Minera. The total investment in the port's construction is approximately \$3.5 billion USD.
- What concerns have been raised regarding the Chinese investment in Peruvian infrastructure?
- Concerns exist regarding China's growing influence in Peru, particularly given the Chinese control of a major port. Some, such as former US diplomat Eric Farnsworth, express worries about China exploiting Peru's perceived absence.
- Why was Chancay chosen as the location for the new port, and what are its strategic benefits?
- The strategic location of Chancay on the central Pacific coast of South America is intended to make Peru a key logistics hub for trade in the region. It will offer a direct route to Shanghai, reducing shipping times compared to existing routes.