[LIMA] Peru will sign a memorandum of understanding to join China's Belt and Road infrastructure initiative in coming days, China's ambassador said on Wednesday, despite recent warnings from the United States about the Beijing's rise in Latin America.
The deal will make Peru one of a few Latin American nations to formally join the China's flagship infrastructure policy, underscoring how countries around the world are being drawn into China's orbit by the promise of investment and despite US objections.sentifi.com"Signing this memorandum of understanding is the start of a cooperation model that China has proposed to the world which...
But early last year, China invited Latin American and Caribbean countries to sign up as well, as it seeks to deepen its ties in a resource-rich region where US influence is historically strong. Peru's decision to sign up as well comes within two weeks of a state visit from US Secretary of State, who repeatedly warned about the risks of what he described as Chinese predatory lending on his recent four-nation tour of South America.
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