In Perus coastal landscape a huge shift is happening: the new mega-port in Chancay (just 50 miles from Lima) shows how fast trade partnerships are changing
Xi Jinping plans to open this brand-new port during the APEC summit while Joe Biden joins other leaders in Lima. The project shows how Beijing got ahead in the region: last year China-Peru trade was $16‚3 billion more than US-Peru trade numbers — thats way different from 10 years back when US was the main partner
The Chancay port project (built by state-owned Cosco) is gonna be a real game-changer for South American trade routes; it will cut down shipping times to Asia by up to 20 days. “Our aim is to become the Singapore of Latin America“ — Raul Perez Reyes explains
Chinas smart moves in South America focus on:
- Getting raw materials like copper and lithium
- Building trade routes and infrastructure
- Making economic deals without military presence
- Growing partnerships with Brazil Chile and Argentina
The new port helps Brazilian soy farmers too. Clemente Baena Soares‚ Brazils ambassador in Lima says its gonna cut shipping time to Asia almost in half. Peru might spend $10 billion on rail projects to move more goods from Brazil
Jose Tam who leads Peru-China trade group points out that Beijing shows real interest in working here. Local officials say they want to work with everyone but its clear whos putting in more effort. As Mario de las Casas from Cosco puts it: “Here there are no good or bad guys here there are only interests“