U.S. hegemony in Latin America is being challenged by the economic presence of foreign powers, such as China, in the region. Much of the literature that discusses this phenomenon deals with the economic and political dimensions of Chinese expansion and the U.S. reaction. Another aspect of this phenomenon is the effects of these changes on the way threats are perceived by U.S. military personnel operating in Latin America. An analysis of declassified documents produced by U.S. Southern Command during the Trump and Biden administrations identifies the threats and challenges perceived by military officials during these two administrations. A hegemonia estadunidense na America Latina vem sendo contestada em razao dos desafios representados pela presenca economica de potencias estrangeiras, como a China, na regiao. Grande parte da literatura que discute este fenomeno tem analisado as dimensoes economicas e politicas da expansao chinesa e as reacoes estadounidenses. Outro aspecto desse fenomeno sao os efeitos destas mudancas na maneira como as ameacas sao percibidas pelos militares estadunidenses que operam na America Latina. uma analise dos documentos desclassificados produzidos pelo U.S Southern Command (Comando Sul) durante os governos Trump e Biden, identificando os desafios e ameacas que foram percebidos pelos militares durante estes dois governos.