China has recently opened the Chancay port in Peru, which cost $1.3 billion. This investment is aimed at improving access to South America's agricultural resources.

The inauguration ceremony was attended by Chinese President Xi Jinping and Peruvian President Dina Boluarte, highlighting the growing economic ties between the two countries. China's goal is to strengthen trade with South America in anticipation of potential trade restrictions from the incoming U.S. administration.

However, there may be challenges in fully realizing the benefits of this investment due to operational hurdles.