Price: $ 1295  
Despite our view for real GDP growth to slow over the medium term, significant commodity wealth,  attractive investment opportunities at the sector level and an emerging consumer story underpin our view  that Peru will remain one of the most dynamic economies in Latin America in the coming  years. Nevertheless, BMI cautions that Peru's heavy reliance on commodity exports will weigh on the  country's shipping sector, with a potential hard landing in China having the ability to cap price and demand  for base metals, leaving ports with less dry bulk volumes to handle.  Underdeveloped infrastructure, capacity constraints, declines in major mining firms' capital expenditure  programmes and continued social unrest could also weigh on shipping volumes. Because of these risks, we  maintain our below-consens ...
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