South America became a major supplier of agroindustrial and mineral commodities to China, and Chinese companies began launching investments to secure these flows and profits. These are often discussed as “South-South cooperation” or “neocolonialism”, characterizing the “rise of China” as a coherent state-led process reshaping the world order through its “impacts” around the globe. Although these processes destabilize Euro- and US-centric political economies and imaginaries, conventional scholarship still tends to obfuscate the new dynamics of globalization at hand, produced by transnational assemblages of power and sovereignty that are not reducible to nation-states as actors and units of analysis. Drawing on political economy, global ethnography, and discourse analysis, Oliveira reveals the formation of a transnational capitalist class who assemble Chinese capital with Brazilian agribusiness and infrastructure for South American integration; the co-production of racial and environmental discourses about East Asian diasporas in Latin America; and how new financial instruments by Chinese, Brazilian, and US companies transform the environmental governance of farmland and biofuels around the world.