We are in a new phase of globalization in which we are experiencing rapidly increasing investment flows South-South and South-North. According to the World Investment Report (2008) Outward Foreign Direct Investment from emerging economies reached $253 billion in 2007, the highest level ever recorded representing about 14% of world outward flows. The number of multinationals from emerging economies in the global Fortune 500 has increased from 19 in 1990 to 76 in 2008, with ten of them coming from Latin AmericaMost of the research on multinationals has focused on companies from developed markets. Research on multinationals from emerging economies is relatively new and most of the attention has been focused on multinationals from Asia. Little research has been done on the internationalization strategies and challenges of Latin American multinationals. This book aims to fill this void. Studying Latin American multinationals will not only provide insights into specific strategies deployed by successful firms but will also identify best practices that can be employed by the next generation multinationals from emerging markets.