Chinese President Xi in South American to Expand Trade
China has funded build a deep-water port in Peru with $1.3 billion investment, which leaves a potential U.S. concern over its military use.
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GeopoliticsTv Team
11/15/20241 min read
Chinese President Xi Jinping is on a week-long diplomatic trip of South America beginning Thursday. He inaugurated a deep-water port in Peru, a $1.3 billion investment by Beijing with an aim to expand trade and influence on the continent, according to reports by news organizations.
The deep-water Chancay port in Peru, funded by China, would leave the U.S. concerned for its potential military use even as China now has become the largest trading partner with some South American nations.
China and Peru also signed an agreement to expand and strengthen existing free trade. The port, according to reports, is expected to generate $4.5 billion annually, and create 8,000 jobs. Peruvian President Dina Boluarte joined Chinese President on Thursday during the inauguration of the port on a video link.