Power Vacuum or Hegemonic Continuity?

This article argues that the gradual decline of the United States’ economic presence in Latin America—and particularly in South America—reads as a manifestation of Washington's hegemonic attrition in the world. Indeed, concerns over the Chinese incursion in Latin America and the increase of the pressures of the American hard line could transform the region into a scenario of geopolitical dispute between the two great powers. I first analyze the history of the relations between the United States and Latin America, which have followed a complex trajectory of interest, coercion, consensus, and carelessness. I then focus on bilateral relations since the 1990s and specify the political and economic transformations of Latin America in the first years of the twenty‐first century and the consequent paralysis of the United States to understand these changes. The article then summarizes the contours of the dynamic commercial relations between Latin America and China, an emergent actor in the region. I conclude with an examination of the U.S. responses to Chinese presence in the Western hemisphere.