Latin American countries can be non-affiliated with US or China

We're living in the era where geopolitics is impacting economic policy-making. America singled out China for its Belt and road initiative programs fearing they were being outmanoeuvred by China, which is now Latin American countries' top trading partner and a major source of foreign direct investment.
How should Latin American countries deal with their relations with these two countries? "There's a rebirth of the notion of non-alignment that you don't have to take sides between the superpowers", says Jorge Heine, former Chilean ambassador to China.