Peru’s New Leader Breaks Tradition and Looks West for Investment

BloombergPeru’s new President Pedro Pablo Kuczynski, a veteran of Wall Street and the World Bank, will make his first visit abroad as head of state to China this week as he looks to drum up investment in mining and infrastructure. It is a sign of the times — his three predecessors had all headed to the White House on assuming office.

Kuczynski will meet Chinese President Xi Jinping on Tuesday in Beijing and Premier Li Keqiang on Wednesday, and also plans meetings with executives from the banking, mining and other industries in Beijing and Shanghai throughout the week.
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China overtook the U.S to become Peru’s largest export market in 2014, purchasing $3.4 billion of mostly copper and other industrial metals in the first half of this year. Now Kuczynski, who took office July 28, is seeking to make good on a campaign pledge to lure Chinese investment to projects including a copper smelter and a coastal railway, while opening up new markets for Peruvian farm produce. …



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