Chinese President Xi Jinping and Peruvian counterpart Dina Boluarte inaugurated a $1.3 billion port that could transform South American trade with Asia just as Beijing prepares for a potential trade war with the US.

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

Peru is inaugurating a huge commercial port built by China, which is expected to become a game changer in the region. Also, a new study finds that private aviation is booming, with flights often clustered around big international events — including climate summits.