Peered VPCs in GCP and Exchanging of Routes (Automatic Routes Exchange)

How does GCP Routing work for a peered VPC?

A router is part of the peering connection. A router gets spun up by default, which allows route exchange.

Using a peered VPC service with static routes
Many applications or services are using static routes instead of subnets routes for connectivity. Starting now, you can set up your VPC peering so that two VPCs exchange their static routes; this means that those appliances are available from another VPC. You can do this by configuring import/export policies on a VPC peering connection. By default only subnet routes are exchanged across peers.