Over the last two decades, South America has experienced a decline of traditional conflicts and a rise of ‘unconventional’ violence. Current territorial disputes – such as those between Bolivia and Paraguay or Chile, Argentina and Chile, or Venezuela and Guyana – are expressions of centennial conflicts of interests that still reinforce differences and consolidate age-old rivalries. However, in the past few decades, these instabilities have not led to open warfare. ‘Peace’ in the orthodox sense – no active political confrontation and warfare – has finally become a rule in the region, albeit a fragile one. Inter-state incidents are almost inexistent; the last examples include Peru and Ecuador (1995), and Venezuela and Colombia (2008).