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China’s rise as a key economic partner to Latin America and the Caribbean (LAC) has generated intense debate over whether its regional engagement constitutes neocolonialism, a debate that has reached analytical impasse. This article advances beyond the neocolonial label by applying a structured four-dimensional assessment, economic, cultural, technological, and political, against explicitly operationalized neocolonial criteria. Although China’s engagement produces identifiable asymmetries across all four dimensions, none satisfies the three constitutive conditions required for a neocolonial characterization as defined here. The article introduces the concept of “negotiated asymmetric interdependence” to describe what neither the neocolonial framework nor the official “win-win” narrative captures: a configuration in which structural power differentials are real and consequential, yet LAC states retain meaningful, if bounded, agency over the terms of engagement. It differentiates this concept from complex interdependence, asymmetric interdependence, dependency with agency, South–South cooperation, and post-hegemonic accounts of regional order, and grounds it in evidence spanning the high-exposure cases most favorable to the neocolonial thesis, within-case analyses of Ecuador’s oil-backed borrowing and the Las Bambas conflict, and the region’s largest economies, Brazil, Chile, and Mexico.
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