The chapter examines the external factors influencing an inclusive green transition, highlighting the volatile geopolitical and geo-economic context that has worsened during Donald Trump’s second presidency. The analysis connects structural dependency theory with world-systems analysis to explain Latin America’s weaker international power. Despite this, it is argued that national governments retain agency to pursue dependent development, using the geopolitical landscape as an opportunity for inclusive green development (IGD). For that purpose, the concept of ‘development by invitation’ is explored in the context of partnerships with the US, the EU, and China. The geopolitical dynamics of energy transition and the fragmentation of the global economy into regional blocs are presented as pressures on governmental agency. The chapter concludes by proposing that progressive governments in Latin America can navigate these challenges through active non-alignment, leveraging agreements with major powers to drive the IGD transition in the face of global strategic competition.