Chinese President Xi Jinping inaugurated the Chancay megaport in Peru, marking South America's first Chinese-funded port and a significant step in China's Belt and Road Initiative. The port, a $1.3 billion investment, aims to streamline trade between South America and Asia, potentially generating $4.5 billion in annual revenues and creating over 8,000 jobs. Despite the economic benefits, the project has raised environmental concerns among local fishermen and geopolitical anxieties in Washington, with fears it could serve military purposes. The inauguration coincides with Xi's visit to the APEC summit in Lima and comes amid heightened trade tensions with Europe and potential tariffs from the incoming Trump administration. The port's development highlights China's growing influence in Latin America, particularly in resource-rich nations like Peru and Brazil, underscoring China's intention to secure commodity supplies essential for its industries and food security.