By Free Republic | Created at 2024-11-16 00:45:50 | Updated at 2024-11-16 02:15:04
1 hour ago
China's President Will Unveil a Megaport in Peru
Newsmax ^ | 14 November 2024
Posted on 11/15/2024 4:30:58 PM PST by george76
On the edge of Peru's coastal desert, a remote fishing town where a third of all residents have no running water is being transformed into a huge deep-water port to cash in on the inexorable rise of Chinese interest in resource-rich South America.
The megaport of Chancay, a $1.3 billion project majority-owned by the Chinese shipping giant Cosco, is turning this outpost of bobbing fishing boats into an important node of the global economy. China's President Xi Jinping inaugurates the port Thursday during the Asia-Pacific Economic Cooperation forum in Peru.
The development — expected to encompass 15 quays and a large industrial park drawing more than $3.5 billion in investment over a decade — has met a skeptical response from impoverished villagers, who say it is depriving them of fishing waters and bringing no economic benefit to locals.
"Our fishing spots no longer exist here. They destroyed them," said 78-year-old fisherman Julius Caesar — "like the emperor of Rome" — gesturing toward the dockside cranes. "I don't blame the Chinese for trying to mine this place for all it's worth. I blame our government for not protecting us."
The Peruvian government hopes the port 60 kilometers (37 miles) north of Lima will become a strategic transshipment hub for the region, opening a new line connecting South America to Asia and speeding trade across the Pacific for Peru's blueberries, Brazil's soybeans and Chile's copper, among other exports.
...
Fishermen returning to port with smaller catches complain that they have already lost out.
The dredging of the port — which sucked sediment from the seabed to create a shipping channel 17 meters (56 feet) deep — has ruined fish breeding grounds
(Excerpt) Read more at newsmax.com ...
TOPICS: Business/Economy; China; Foreign Affairs; Politics/Elections
KEYWORDS: china; peru
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1 posted on 11/15/2024 4:30:58 PM PST by george76
To: george76
More Belt and Road mercantilism by the chicoms. Peru’s government has sold its people out. This will only benefit the CCP and the scumbags who they bribed.
2 posted on 11/15/2024 4:36:30 PM PST by HYPOCRACY (Democracy is dead. Long live the Republic!)
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