By Alek Buttermann The inauguration of the Chancay Megaport in Peru marks a significant moment for regional trade, with the facility set to become South America’s largest commercial port. Developed by China's state-owned Cosco Shipping,

A new China-backed megaport in Peru may create whole new trade routes that will bypass North America entirely.

Huge cranes loom over Peru's massive new Chinese-funded Chancay port, a symbol of Beijing's growing influence in South America which is set to be inaugurated by President Xi Jinping on Thursday."With the addition of this port,