Peruvian fishermen, including Francisco Chiroque, have seen a significant decrease in giant squid catches this year, with a 70% drop, due to the presence of hundreds of Chinese fishing boats in their usually rich fishing grounds. The Chinese Foreign Ministry denies any wrongdoing and maintains that fishery cooperation is a highlight of China-Peru relations. However, the US and environmentalists accuse China of threatening fisheries and ecosystems with its large fishing fleet, leading to US sanctions and concerns about global maritime security. The issue has led to claims of unfair competition and threats to artisanal fishermen, with the US Coast Guard taking action against illegal fishing off South America's coast.