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What are the potential economic benefits of the Chancay Port Project for Peru?
  • a)
    It will decrease Peru's GDP by increasing foreign dependency.
  • b)
    The project is expected to generate approximately $4.5 billion annually, contributing to about 1.8% of Peru's GDP.
  • c)
    The port will only facilitate local trade within Peru, having no impact on exports.
  • d)
    The project will primarily benefit China, with minimal advantages for Peru.
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
What are the potential economic benefits of the Chancay Port Project f...
The Chancay Port Project is projected to generate approximately $4.5 billion annually for Peru, which represents about 1.8% of the nation's GDP. This significant economic contribution arises from the port's role as a vital trade gateway, enhancing trade routes between South America and Asia, thereby facilitating exports of key commodities like copper and lithium. The port’s strategic location and capacity to accommodate large vessels further augment its potential to boost Peru’s economy.
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What are the potential economic benefits of the Chancay Port Project for Peru?a) It will decrease Peru's GDP by increasing foreign dependency.b) The project is expected to generate approximately $4.5 billion annually, contributing to about 1.8% of Peru's GDP.c) The port will only facilitate local trade within Peru, having no impact on exports.d) The project will primarily benefit China, with minimal advantages for Peru.Correct answer is option 'B'. Can you explain this answer?
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