China has made a $1.3 billion bet that a new port in Peru will boost access to South America’s agricultural bounty. Cashing in on the investment may be harder than expected.

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

Residents relax and enjoy the beach under the sun, as cranes build Chancay Port in the background in Lima, Peru, on October 29, 2024. Photo: VCG Giant containers pile up at the newly developed Chancay Port, Chancay, Peru, on October 24, 2024. Photo: IC