This document reviews the consequences, for Argentina and South America, of the rise of China as the world’s second (and soon to be the first) economy, and as the most important trading partner of the main South American economies, as well as a very major investor therein. It also documents perceptions of threat generated in the declining superpower, the United States, both as a consequence of China’s penetration of its “back yard”, and of wider economic and geopolitical competition. The paper includes an up-to-date bibliography of Sino-Latin American relations. Regarding Argentina, the main conclusion is that the rise to superpower status of a country whose economy complements its own is the best piece of news in more than a century. Argentina was successful when Great Britain, whose economy was complementary to its own, was the dominant power, and suffered grave regressions when the United States, whose economy did not complement it, displaced the United Kingdom as the hegemon. Regarding U.S. threat perceptions, the paper concludes that they are not warranted, especially inasmuch as, militarily, the interstate system will remain unipolar. All the major powers put together cannot compete with the global network of over 900 military bases and installations which the United States officially maintains in 46 countries and territories, occupying 796.000 acres in which 26,000 buildings and structures are erected. Hence, for a long time to come, the growth of Chinese power will not threaten countries which are not China’s immediate neighbors, least of all the South American states. Argentina in particular should welcome the displacement of a North American giant which has never been friendly to it, largely because it did not need it.