A new China-backed megaport in Peru may create whole new trade routes that will bypass North America entirely.

South of the border, China is ascendant.Chinese leader Xi Jinping arrives this week in a region where China has replaced the U.S. as the dominant trading partner for most big economies, with the exceptions of Mexico and Colombia.

The port opening in Chancay underscores China’s growing clout in a region that once looked primarily to the United States for economic opportunity.

"Since the beginning of the new century, the growth rate of China-Latin America goods trade volume has been much higher than the trade growth rate of Latin America and the Caribbean with the rest of the world in the same period, which highlights the high complementarity between the economies of China and Latin America," Lin said.

The new megaport is 992 hectares in size and creates a direct link between Shanghai and Peru and will cut shipment times down by 20 days on some routes.

China’s President Xi Jinping joins host and counterpart Dina Boluarte to inaugurate Chancay Port in Latin American nation of Peru - Anadolu Ajansı

Residents relax and enjoy the beach under the sun, as cranes build Chancay Port in the background in Lima, Peru, on October 29, 2024. Photo: VCG Giant containers pile up at the newly developed Chancay Port, Chancay, Peru, on October 24, 2024. Photo: IC

The Chinese state enterprise-owned Chancay port can berth some of the largest container ships, and potentially Chinese warships.

By Alek Buttermann The inauguration of the Chancay Megaport in Peru marks a significant moment for regional trade, with the facility set to become South America’s largest commercial port. Developed by China's state-owned Cosco Shipping,

China's leader, Xi Jinping, virtually inaugurated the large Chancay port near Lima on Thursday. Built, financed, and controlled by a state-owned Chinese company, the port aims to streamline direct goods transport between Asia and South America.

China's leader, Xi Jinping, virtually inaugurated the large Chancay Port near Lima on Thursday. Built, financed, and controlled by a state-owned Chinese company, the port aims to streamline the direct transportation of goods between Asia and South America.