Xi Jinping inaugurates $1.3 billion port in Peru to boost trade ties

Chinese President Xi Jinping inaugurated a $1.3 billion deep-water port in Peru, named Chancay, as part of China's efforts to enhance trade and influence in South America. The port, located 48 miles north of Lima, is a key project in China's Belt and Road Initiative. The port is expected to generate $4.5 billion in annual revenue and create over 8,000 jobs. It will facilitate shipping between Latin America and China, with the first ship set to depart next week carrying Peruvian fruit to China. China's investment in Chancay has raised concerns in the U.S. about potential military uses. The port's development reflects China's growing presence in a region traditionally influenced by the U.S., as it becomes the largest trading partner for countries like Peru.