China opens port in Latin America, US worried
Last Updated on November 19, 2024 5:32 am
This time China also appeared in South America. Peru’s Changkai port was built with the country’s funding. Chinese President Xi Jinping has already inaugurated the port. It is the first Chinese-funded seaport in South America.
The port has been developed as part of China’s Belt and Road Initiative (BRI). It is expected to take trade between Latin America and Asia to new heights.
Xi Jinping has called it the ‘Maritime Silk Road of the 21st Century’.
“This will generate significant income and huge employment opportunities for Peru,” he said in Lima with Peruvian President Dina Boluarte.
Meanwhile, Donald Trump won the US presidential election by promising to impose tariffs of up to 60 percent on Chinese imports. But this new mega-port, which China has helped build in South America, is creating the possibility of a whole new trade route. Trade could be conducted on this route bypassing North America entirely.
According to experts, Washington has neglected its neighboring states over the years. Now he has to pay the price.
Monica de Bolle, a senior fellow at the Peterson Institute for International Economics in Washington, said the United States had not focused on Latin America for a long time. In this situation, China has worked to expand its dominance in the region.
He said that the absence of the United States has opened the way for China to enter the region. As a result, problems have arisen.
Before opening the port, China’s state-owned Cosco Shipping spent $3.5 billion to turn the sleepy Peruvian fishing town into a powerhouse. Which will change the economic condition of the country.
Peruvian President Dina Boluerte called the megaport a nerve center. Because through this port, his country got the opportunity to establish relations with the Asian market.
Once Changi Port is fully operational, Chile, Ecuador, Colombia and Brazil will have access to Shanghai and other ports in Asia.
But the US military fears that Changi Port could handle thousands of large container ships. Then China will also use their warships through this port.
Source: Reuters