In a game-changing development Xi Jinping and Dina Boluarte opened a massive port complex in Chancay Peru yesterday (the facility cost around 3‚6 billion dollars to build). The port creates fastest-ever maritime connection between China and South Americas western coast; making it a key-point for trans-pacific trade
The mega-project shows how Beijing expands its reach: this new sea-route lets Chinese goods reach South American markets much faster than before. The timing is important too - the opening happens right before important meetings where Xi Jinping will talk with US leaders at APEC forum
The new port shows how South America dont look only to US markets anymore: China becomes a big player in the region where Washington used to be main trade partner. The facility (which sits about 50 miles north of Lima) changes local economic landscape - its expected to handle millions of containers per year and create lots of jobs