China's political and economic influence in Latin America has increased dramatically since the turn of the century. This is especially true in resource-rich countries like Peru, where China has channeled billions of dollars of investment into the oil and mining sectors. This report takes a critical look at the narrative that closer engagement with China is the key to Peru's future economic development and prosperity, and suggests ways that US agencies, corporations, and NGOs can support Peruvians' efforts to create a more equitable balance in their country's relationship with China.