The Chancay megaport, located 60 kilometers northeast of Lima, is a clear example of the new orientation that Latin America is taking, with China emerging as an alternative in a context where the United States seems to be distancing itself from isolationism and fostering a closer relationship with its neighbors. The Chinese delivery and logistics giant Cosco, in collaboration with a Peruvian partner, owns 60% of this project, which aims to strengthen trade relations across the Pacific, from the United States to Chile.
Peru's Foreign Minister, Elmer Schialer, highlighted the importance of maintaining a constructive dialogue to address the challenges in the region alongside China and the United States. For his part, Eric Farnsworth, vice president of the Council of the Americas, pointed out that the perception that Latin America must choose between its two main trading partners is a strategic defeat for the United States, as China is increasingly considered a more attractive option.
Despite China's massive investment in infrastructure in the region over the past decade, it is unlikely that new loans will be granted to Latin America through the Belt and Road Initiative. The competition between the United States and China is intensifying, with the Chancay port being a key point in this dispute, as the United States has expressed concern about a potential military use of the port by China in the Pacific.
Although the United States has expressed concerns about Chinese influence in the region, it has failed to match the capacity to build infrastructure like the Chancay megaport. The Biden administration has sought to build alliances in the region, while Trump promised to protect American interests, adopting a more unilateral approach in international relations.
In this sense, China's presence in Latin America has been increasing, with Xi Jinping visiting numerous countries in the region since he took office. Despite U.S. concerns about Chinese influence, China continues to expand its presence in the region through infrastructure and trade agreements. However, the competition between China and the United States continues to shape the agenda in Latin America, where the Chancay megaport is just one example of the struggle for influence in the region.
