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  5. China and Peru's $5.3 Billion Megaport Officially Launches, Extending China's Reach in Latin America

China and Peru's $5.3 Billion Megaport Officially Launches, Extending China's Reach in Latin America

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The article reports on the inauguration of the Chancay Port in Peru, a $3.5 billion megaport developed by China. Chinese President Xi Jinping virtually inaugurated the port from Lima, Peru's capital, while being accompanied by Peruvian President Dina Boluarte. The port is expected to attract $3.6 billion in investment and will provide a direct trade route from China to South America across the Pacific Ocean. The Chancay Port is considered a successful example of Sino-Peruvian cooperation under the Belt and Road Initiative. Chinese port operator Cosco Shipping has a 60 percent stake in the facility, indicating significant Chinese investment in the project. This development has been met with interest from the United States, as it could reshape Pacific trade and potentially increase Chinese influence in the region.

  1. CN
    Xi Jinping
    Chinese Communist Party
    1. More than 2,000 years ago, Chinese ancestors set sail across the Pacific, forging the Maritime Silk Road and connecting East and West. Over 500 years ago, Peruvian Inca people fearlessly crossed mountains and valleys, building the Inca Trail that traversed the Andes from north to south.
    2. We are witnessing... the birth of a new land-sea channel between Asia and Latin America in the new era.
    3. The completion of the Chancay port, a landmark project of the belt and road cooperation between our two countries.
    4. Today, the Chancay Port is becoming a new starting point for a modern Inca Trail. From Chancay to Shanghai, we are witnessing not just new development under the belt and road initiative in Peru, but also the birth of a new land-sea passage for a new era.
  2. PE
    Raul Perez
    1. We will have direct routes to Asia, in particular to China, which will reduce (shipping time) by 10, 15, even 20 days, depending on the route.
  3. PE
    Gonzalo Rios
    Cosco Shipping
    1. With the addition of this port, this part of the Pacific and Peru in particular could become the logistical hub of South America.
  4. AU
    James Laurenceson
    Australia-China Relations Institute
    1. The Indo-Pacific region is one that is in overwhelming agreement that more trade with China is a good thing.
    2. The fact is six of the 10 biggest ports in the world are in China, and many more are China-owned.

sources

  1. 1.ABC News (Australia)
  2. 2.South China Morning Post
  3. 3.CGTN
  4. 4.France 24
  5. 5.The Washington Post
  6. 6.Reuters

perspectives

  1. 1.Chinese Foreign Policy
  2. 2.US-China Relations
  3. 3.China under Xi Jinping
  4. 4.Chinese Economy
  5. 5.Shipping industry
  6. 6.Peru under Dina Boluarte
  7. 7.Peruvian Economy

countries

  1. 1.AustraliaAU
  2. 2.ChileCL
  3. 3.ChinaCN
  4. 4.ColombiaCO
  5. 5.Costa RicaCR
  6. 6.EcuadorEC
  7. 7.SpainES
  8. 8.MexicoMX
  9. 9.NicaraguaNI
  10. 10.PeruPE
  11. 11.SingaporeSG
  12. 12.United StatesUS

organizations

  1. 1.Cosco Shipping
  2. 2.Australia-China Relations Institute
  3. 3.Asia-Pacific Economic Cooperation
  4. 4.Glencore

persons

  1. 1.Xi JinpingCN
  2. 2.Dina BoluartePE
  3. 3.Angela Ponce
  4. 4.Fernando Vergara
  5. 5.Gonzalo RiosPE
  6. 6.Igor Patrick
  7. 7.James LaurencesonAU
  8. 8.Joe BidenUS
  9. 9.Raul PerezPE
  10. 10.Soledad Campos De Parry

technicals

  1. 1.Chancay Port
  2. 2.Inca
  3. 3.Pacific Ocean
  4. 4.Belt and Road Initiative
  5. 5.Caribbean Sea
  6. 6.Silk Road
  7. 7.APEC Economic Leaders' Meeting
  8. 8.Pan-American Highway
  9. 9.Port of Manzanillo
  10. 10.Yangshan Port