China Inaugurates Chancay Megaport in Peru

China has solidified its influence in Latin America with the inauguration of the Chancay port in Peru, attended by President Xi Jinping. This $3.5 billion project is part of China's Belt and Road Initiative and is expected to significantly reduce shipping times between Peru and China, creating around 8,000 jobs and potentially generating $4.5 billion annually. U.S. experts warn that the U.S. risks losing its historical influence in the region due to years of neglect, with Monica de Bolle from the Peterson Institute stating that 'the US has been absent for so long, and China has moved in so quickly.' The port is seen as a strategic pivot in global trade, reshaping economic relationships and trade routes, particularly as the U.S. braces for shifts in policy under a potential Trump presidency. This development raises concerns regarding U.S. trade and security interests, as Latin American countries navigate the balance between American and Chinese influence.