China Building Mega Port in South America To Expand Its Silk Road Project
by Emmitt Barry, Worthy News Correspondent
(Worthy News) – China is building a mega port in Peru to expand its silk highway to South America, Reuters News Agency reported.
China is making a significant investment of $3.5 billion in developing a deep water port in Chancay, Peru, and is poised to commence operations later this year.
The port, designed to enhance maritime capabilities and increase trade efficiency, represents a significant economic and strategic investment for China in Peru, strengthening the relationship between Beijing and Lima.
This growing trade relationship underscores China’s expanding influence in global markets and highlights the rich natural resources of South America, which have become integral to feeding China’s massive population and supporting its industrial growth.
Over the past decade, Beijing has strategically positioned itself as the predominant trade partner in South America, surpassing the United States.
This project reflects China’s expanding global Belt and Road Initiative adopted by the Chinese government in 2013. Chinese President Xi Jinping has spent billions in his “Silk Road Economic Belt,” investing in over 150 countries and international organizations in an effort to dominate world trade.
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