China is building the first megaport in Peru
Last Updated on June 15, 2024 10:12 am
China is building the first deep sea port on the Pacific coast of Peru. As a result, analysts believe that China’s relationship with the United States will worsen. This information was reported by NDTV on Friday with reference to the Wall Street Journal.
According to the report of the Wall Street Journal, the Chinese shipping company Cosco is building this seaport on the Chankai coast of Peru, a country in Latin America. It is reported that Chinese President Xi Jinping may inaugurate this port at the end of this year. This project, which is under construction at a cost of about 350 million dollars, is the first port built on the Pacific coast of South American countries. The port is being built in about 60 feet deep water.
Analysts say that the port will improve trade relations between Asian and South American countries. Besides, Chinese will increase the import of electric cars and other products to the countries of the region. The report also said the port poses a challenge to the US, which is committed to curbing China’s rise in Latin America. The US is concerned that Chinese control of the port will strengthen Beijing’s grip on South America’s natural resources. In this regard, General Laura Richardson, head of the Southern Command of the US Armed Forces, said, “It will make it easier for the Chinese to extract all the natural resources from the region.”
The route currently followed by Peru and China for agricultural trade takes 35 days to get from one country to the other. As a result, most perishable foods take longer to reach the market. Due to this the products cannot be kept for a long time. But Changkai Port will cut that time to one-third. As a result of which the transportation cost will be reduced a lot. The Wall Street Journal reports that about 70 percent of the port’s construction work has been completed. Rest of the work is also expected to be completed very soon. The port is likely to be inaugurated when Xi Jinping attends the Asia-Pacific Economic Cooperation (APEC) leaders’ summit in November.