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.

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.

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