This paper analyses Sino-Us great power competition inLatin America, focusing on Chile as a case study. Chile, with an open economy, had invested heavily in multilateralism and liveral institutions as a way to enhance its long-term prosperity. In the past years, the US and China began a competition that is eroding these institutions, stressing medium economies that have trade dependence with both actors. From the one side, it seems that China is using its economic investements to lever national decision-making process while on the other, US has relied on its historical relations with the subcontinent, taking for granted a regional alignment. The question of this paper then becomes, how do the US and Chile minimize uncertaintl¡y while maximizing security and stability when there is so much potential for short-term gain from abroad?