Peru to further improve infrastructure, expand exports under BRI: president

Peru's incumbent government aims to improve national cohesion through infrastructure, an objective that stands to benefit from China's Belt and Road Initiative (BRI), said Peruvian President Dina Boluarte.

Speaking in a recent interview with China Global Television Network (CGTN), the president commented on the significance of a monumental five-hour speech she delivered at an event to commemorate Peru's independence on July 28.

I spent five hours explaining to the entire Peruvian people what we had done in the past year and a half since we assumed the reins of government. Why do I put more emphasis on infrastructure? As I just said, we want to strengthen national cohesion. We still need at least 30 or 40 years. There is still a lot to do. The most important thing now is the connectivity across the country," Boluarte said.

A key achievement in this regard is the opening of the Chancay Port on November 14. Built by China's COSCO Shipping as a key BRI project, the megaport stands to slash shipping time and costs between China and South America.

"If we want to export more agricultural products and mineral products through the Chancay Port, we need to promote connectivity, through the construction of roads, bridges and airports. We must build roads or railways. If we can travel by car or train, it will greatly shorten the time of people to reach the rainforest areas," said the Peruvian president.

"We hope to open up economic corridors on a wider scale to connect our economic industries and realize the promises we made to all Peruvian people. We want to make Peru different from when we took over, even if it's only a small improvement," she said.

Boluarte lauded China for setting a good example for developing countries and always keeping the door open to cooperation.

"I believe that the Belt and Road Initiative proposed by President Xi Jinping provides an example worth learning from in terms of the principle of mutual respect, fairness and justice, and maintaining peace. It is an example that we emerging countries should learn from. Peru will continue to participate in the process of Belt and Road cooperation. Based on this model, Peru will continue to promote the expansion of financial markets and the development of emerging countries," the president said.

Peru to further improve infrastructure, expand exports under BRI: president

Peru to further improve infrastructure, expand exports under BRI: president

The 2024 Los Angeles Auto Show, one of the largest car events in the United States, is in full swing, serving as a platform for major automakers to unveil their latest models and concept cars. This year's highlight is the industry's transition to electric vehicles (EVs).

Unveiling a new electric vehicle at the Los Angeles Auto Show is no longer a novelty. Manufacturers are now stepping up by introducing electric SUVs and trucks, reflecting the growing demand for versatile EV options.

"What we're understanding is that some of the biggest purchase decisions are made on range and charging. So, everybody wants to have a long-range battery. So, anything over 300 miles, it seems to be the sweet spot. That is when you start getting people to consider switching from a gas-powered car to an electric car," said Shad Balch, Director of Communications at Chevrolet.

Electric vehicles are the buzzword at this year's show, with automakers showcasing new models that promise better performance, longer ranges, and faster charging capabilities.

However, some experts have raised concerns about market saturation. In developed markets like California, many early adopters have already made the switch to EVs.

Despite the higher costs, government incentives continue to play a crucial role in making EVs more accessible.

"EVs are here to stay. They are the wave of the future. Electric vehicles are better for emissions. And the government is mandating that all manufacturers have to produce EVs," said Claudia Anderson, Product Specialist at Subaru.

California is leading the charge with a mandate requiring all new vehicles sold in the state to be zero-emission by 2035. This corresponds to the growing environmental consciousness among consumers, which experts believe is driving the increasing demand for EVs.

"I'm from California. And remember, growing up when we had "spare the air days" - that the air was too dirty to go play outside. So, California's made big strides in leading the way with environmental policy, and the vehicles are a nice complement to help achieve that solution," said Balch.

According to "Statista Market Insights," the U.S. EV market is projected to grow at an average annual rate of over 10 percent, with total unit sales expected to reach 2.3 million vehicles by 2029.

Los Angeles Auto Show 2024 highlights surge in EVs