LIMA (Reuters) -Chinese President Xi Jinping launched a week-long diplomatic blitz of South America on Thursday by inaugurating a massive deep-water port in Peru, a $1.3 billion investment by Beijing as it seeks to expand trade and influence on the continent.

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

President Biden is in Latin America for the APEC and G-20 summits, in what is likely his last trip as president. The back-to-back summits come as an impending second Trump presidency is near, which may rattle some world leaders.