Trump’s South America threats fizzle as China’s trade surges, powered by Peru port

China’s trade with some South American nations is accelerating after the opening of Peru’s Chancay port, underscoring Beijing’s push to secure resources and bolster industrial supply chains under the Belt and Road Initiative, analysts said. China’s trade with Peru rose 17.8 per cent last year to US$50.96 billion, according to data from Beijing’s General Administration of Customs. That growth rate was the fastest pace in four years and a record in value terms. Minerals drove most of the expansion. Chinese imports of ore, slag and ash from Peru jumped 20.7 per cent in value to over US$30 billion, making the…