The so-called New World Order established at Malta in 1990 has become an Old World Order, since the spheres of influence acknowledged more than three decades ago have come apart thanks to the shifting effects of geo-economics and huge changes in the ways in which leading powers are behaving in the world. That has put an end to the United States’ Monroe Doctrine, which essentially proclaimed the Western Hemisphere and Latin America in particular as the United States’ “backyard.” China’s geo-economic approach to countries in the region has been paying off for Beijing (as well as for several Latin American countries), creating an ongoing competition between China and the U.S. for regional influence. Meanwhile, newly elected leftist leaders across Latin America are finding China’s money and U.S. concern rewarding. As a result, the region could see a considerable expansion in its economic growth in the near future.