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China is building a megaport that could challenge U.S. influence in a resource-rich region in Washington’s backyard.
While the US concentrates on lands much farther away, China is producing its influence in South America. The port is likely to upend South American trade with Asia.
The Chancay deep-water port is important enough to Beijing that Chinese leader Xi Jinping is expected to inaugurate it at the end of the year, according to the Wall Street Journal, during his first trip to the continent since the pandemic .
According to the Wall Street Journal , Majority-owned by the giant China Ocean Shipping group, known as Cosco, Chancay promises to speed trade between Asia and South America, eventually benefiting customers as far away as Brazil with shorter sailing times across the Pacific for everything from blueberries to copper. As nations worldwide shudder at a new flood of cheap Chinese manufactured goods , […]
— Read More: www.independentsentinel.com
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