In blunt warning, the U.S. says Peru could lose its sovereignty to China [Los Angeles Times (CA)]
COSCO SHP HLDG UNSP/ADR (CICOY)
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Source: Los Angeles Times
South American nation's critical infrastructure, a blunt warning after a Peruvian court ruling restricted a local regulator's oversight of a Chinese-built mega port. The $1.3-billion deepwater port in Chancay, north of Peru's capital of Lima, has become a symbol of China's foothold in Latin America and a lightning rod for tensions with Washington. The U.S. State Department's Bureau of Western Hemisphere Affairs said on social media that it was “concerned about latest reports that Peru could be powerless to oversee Chancay, one of its largest ports, which is under the jurisdiction of predatory Chinese owners.” It added: “We support Peru's sovereign right to oversee critical infrastructure in its own territory. Let this be a cautionary tale for the region and the world: cheap Chinese money costs sovereignty.” The concern comes as the Trump administration seeks to assert dominance over the Western Hemisphere, where China has long built influence through massive loans and high tra
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