China to knock off US as Peru’s top trading partner
Mining waste in Morococha, Peru.
China is set to replace the United States as Peru's biggest trade partner.
In the first seven months of the year, Peru's exports to China grew by 30 percent, reported state news agency Andina.
The Chinese demand for raw materials — including copper, zinc and lead — fuels much of the demand for Peruvian products.
But Jorge Chian, the economic and trade adviser at Peru’s Embassy in Beijing, said Peru is also exporting non-traditional products, such as fishmeal and natural dyes.
Trade between the two countries to expected to grow to more than $13 billion dollars, the news agency reported.
Read more on the growing Chinese presence in Latin America:
- Why is China investing billions in the Caribbean?: The Caribbean lacks commodities, it's not a major producer of raw materials and it has relatively little buying power. Yet China is spending big there.
- Chopstick diplomacy in Chile: Chinese restaurants are popping up in Santiago as China quietly wields its soft power by promoting Chinese food.
- Can a land route rival the Panama Canal?: China and Colombia are talking about building 250 miles of railroad to link Colombia's Atlantic and Pacific coasts.
- China's Brazilian shopping spree: While Chinese investors spent the last decade buying up natural resources across Africa, this year they’ve begun an unprecedented shopping spree in Brazil.
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