The PTPA sets high standards for both countries on market access, investment safeguards, intellectual property rights, and environmental and labor-rights protections. citizen visitors to Peru increased 40 percent in the last five years, and now exceeds 525,000 per year. embassy officials are listed in the Department's Key Officers List.
Besides putting in place infrastructure critical for development, the aim is to create a platform for greater trade flows, economic cooperation and social exchanges.But critics say there is a dark side to this mega-infrastructural endeavour : the BRI also functions as a major vehicle for China's debt trap diplomacy, which, in South Asia, has already ensnared Sri Lanka.The estrangement in ties will inevitably push Pakistan into China's orbit, allowing Beijing even more leverage as it goes about practising what has been called "debt trap diplomacy" for strategic gains in the region.China's swift public declaration of support for Pakistan as its "all-weather partner" is an implicit rebuke of the United States.In fact, shortly after the US announced the suspension of aid to Islamabad, Pakistan's central bank announced it would finally begin using Chinese yuan for bilateral trade and investment between the two countries.
More significantly, China's ambassador to Pakistan proclaimed that the country would expedite the timetable of CPEC's construction.
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The United States and Peru enjoy a strategic partnership based on the shared values and interests of democracy, security, mutually beneficial trade, and human rights.
The United States partners with Peru to support democratic governance, economic growth based on free trade and open markets, and promotion of security and stability.
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