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The Pacific Alliance (PA) is considered a strategic regionalism in Latin America due to the pragmatic policy trade of the members. One of these pragmatic elements is investment. This article analyzes intra-regional investment flows in the PA in the period 2010–2021 as evidence of strategic regionalism. This article examines the characteristics of the strategic regionalism and the theoretical approaches to foreign direct investment (FDI) from the perspective of capital localization and the internationalization processes of companies. Based on official statistics from the countries, annual FDI and intra-regional investment flows are studied, along with a qualitative analysis of the Pacific Alliance Investment Facilitation Initiative. It concludes that the PA's intra-regional investment is explained by the internationalization and economic importance of multilatina companies, and that it should consider alliances with Chinese enterprises.
María Esther Morales-Fajardo (Thu,) studied this question.