This paper explores the extent to which the rapid growth of China and India in world markets is affecting Latin America's trade specialization pattern. To this end authors construct a measure of Revealed Comparative Advantage (RCA) country and year. Authors then explore the correlation of these RCA measures between Latin America and Caribbean region (LAC) and the two Asian economies. Results suggest that the specialization pattern of LAC economies-with the exception of Mexico-has been moving in opposite direction to the trade specialization pattern of China and India. Labor intensive sectors (both unskilled and skilled) are the more likely to be negatively affected by the growing presence of China and India in world markets, whereas natural resource and scientific knowledge intensive sectors are likely to benefit from China and India's growth.