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

South of the border, China is ascendant.Chinese leader Xi Jinping arrives this week in a region where China has replaced the U.S. as the dominant trading partner for most big economies, with the exceptions of Mexico and Colombia.

China and Latin America have great potential for cooperation in the green and new-energy sectors, as China's advanced new-energy technologies and products match the region's emerging need for clean energy and overall social and economic development,

The new megaport is 992 hectares in size and creates a direct link between Shanghai and Peru and will cut shipment times down by 20 days on some routes.

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

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,