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

China has made economic advancements to boost its ties with Latin American economies. The ties reflect China’s effort to export its way out of a shrinking economy. The Asian powerhouse has initiated infrastructural developments and entered into trade agreements to facilitate its trading activities in the region.

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

China and Latin America have great potential for cooperation in the green and new-energy sectors, as China's advanced new-energy technologies and products match the region's emerging need for clean energy and overall social and economic development,

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.