zeit.de
China's First South American Port Opens in Peru
China opens its first port in South America, raising concerns about increased Chinese influence in the region.
German
Germany
ChinaGeopoliticsTradeLatin AmericaInternational TradeInfrastructurePeru
Cosco Shipping PortsVolcan Compañía MineraCouncil Of The Americas
Xi JinpingDina BoluarteEric FarnsworthAgustín Barletti
- What is the significance of the Chancay megaport's opening in Peru?
- China's Cosco Shipping Ports now controls 60% of the Chancay megaport in Peru, marking the first Chinese-controlled port in South America. The port, financed by China, is expected to significantly reduce shipping times between Peru and China.
- What is the cost of the Chancay port, and what is its initial capacity?
- The Chancay port's construction cost $3.5 billion and will initially handle one million containers annually. It is part of China's Belt and Road Initiative, aiming to expand its global influence.
- Who inaugurated the Chancay port, and what were their respective statements?
- Peruvian President Dina Boluarte and Chinese President Xi Jinping virtually inaugurated the Chancay port. Xi emphasized China's commitment to connectivity between South America and China, while Boluarte highlighted China's role in Peru's economic growth.
- How has the trade relationship between China and Peru evolved over the years?
- The trade volume between China and Peru has doubled since 2009, reaching $33 billion. China has also invested substantially in Peruvian mining and energy projects over the past decade.
- What are some of the concerns surrounding the Chinese control of the Chancay port?
- Concerns exist regarding China's growing influence in the region due to the port's development. Critics argue this gives China undue control over Peruvian trade and infrastructure.