The United States on Thursday threatened to pull out of the annual meeting of the Inter-American Development Bank in China next week if Beijing refuses to allow a representative of Venezuelan opposition leader Juan Guaido to attend.

China’s flexibility and observance of mutually beneficial policies has enabled it to gain a significant foothold in South America, particularly in Brazil and Venezuela.

Though China forged a new economic relationship with Venezuela under Hugo Chávez and Nicolás Maduro, the PRC’s continued presence is almost guaranteed through the need for Venezuelan oil.

President Xi Jinping’s presence at the recent G-20 Summit in Buenos Aires, Argentina reaffirmed that China is leading the way in nurturing bilateral trade and investment deals in Latin America.

The US should stop worrying about China’s intentions in Latin America.

What is China’s plan for Latin America?

American markets dominate the Mexican economy and will continue to do so for many decades, but the combination of China’s growing presence in Mexico and the election of a leftist firebrand to the Mexican presidency could further strain U.S. relationships with both of these countries.

The United States did not push Latin America and the Caribbean into China’s arms, but by pulling back, it created space for others to fill. Now, it appears that the United States seeks a course correction.

China’s most recent strides in Latin America are due in large part to a series of carefully crafted policies that advance China’s own interests while addressing Latin America’s top development priorities. The U.S. risks losing influence, competitiveness, and control in Latin America.

Is the Monroe Doctrine back?