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.
This from newsmax.com.
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 inaugurated the port yesterday 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…
