And when the OAS under a very bold secretary general, Luis Almagro, tries to bring the institution toward recognizing that Venezuela is no longer in compliance with the Inter-American Democratic Charter, he is not getting the full assistance of the hemisphere, and certainly much of the Caribbean Basin has actually not supported that. And if you line up the votes, who enacted favor and who stayed away, you can do a quite easy one for one contrast based on who belongs to Petrocaribe. Therefore the implication of your concern I believe is spot on, you understand, which is why I believe when we discuss the Caribbean in Washington, oftentimes we consider it in the context of, you know, island nations or programs or social development, and all of these are extremely, really essential issues.
And the dividends pay off down the roadway when Venezuela itself remains in the spotlight of the international community. Then they have good friends that they can rely on and it pays dividends for them - How to finance a home addition. So I believe that at the end of the day that is a lesson honestly that we can discover, and I think we can build towards reversing that course. Ms. Yearwood. I agree one hundred percent with Eric. Venezuela actioned in at a time that was very important for much of the region and now the region is quite paying the rate, whether it owes money or other areas connected to votes and other requirements that they do as an outcome of the-- Mr.
Increased costs in energy too now. Ms. Yearwood. Sorry? Mr. Sires. An increase in the expense of energy likewise. Ms. Yearwood. Oh, definitely, absolutely. Therefore I believe to the point, we are at an essential point now with the expense of energy being what it is with the U.S. energy supply going up and the region looking at ways to increase sustainable energy, whether it is through gas or getting the area less reliant on Petrocaribe and able to make these switches to new kinds of energy is going to make a huge distinction. Mr. Sires. See, I don't believe things take place by accident.
The other issue that I have is the substantial increase of China in this area. You understand, we appear to be put to a lull of sleep or something since everyone appears to relocate and after that we react. And we don't appear to capture these things till something like this occurs, you know, like Venezuela. So unfortunately, you know, considering that I have actually been here we have actually been pushing-- and I know Mr. Meeks and the other members that are here, you understand, this is an important region for us. It is a crucial region for America and we truly need to concentrate.
They are going to go through the Panama Canal and they are available in and they throw cash, you know, at these small countries, which in truth they can't pay for not to accept the cash. So just how much of impact is there now of the Chinese? And I understand it is growing, but-- Ms. Yearwood. The Chinese impact, it is really very interesting to enjoy the method China has actually type of come into the region and the types of tasks. Sometimes it is a sports stadium - How long can you finance a camper. I think the current, the Baha Mar debacle in the Bahamas, you have actually chuck wesley seen the Chinese Government can be found in in a manner that the U.S.
If a Chinese designer comes into a country in the region they have the Chinese funding and the Chinese Federal government behind them. Mr. Sires. And the employees. Ms. Yearwood. And the employees. And so you have actually efficiently got a bundle that the U.S - How do you finance a car. can not-- the Foreign Corrupt Practices Act and all sorts of other reasons, the U.S. can not contend in regards to the types of financial investment that they have the ability to take in without sort of needing to do the due diligence behind it. And it is really welcome in a great deal of places, however what Baha Mar has revealed us is that it can create a very tight spot for the nations where they go.
Farnsworth. I believe Sally raises a truly fascinating and important point in this context. What does etf stand for in finance. You understand, the Chinese or Venezuelan design is a state-led design, so the capital of the nation, the leaders how to get rid of bluegreen timeshare in the country can state this is what we are going to do. We are going to create Petrocaribe or we are going to build a sports stadium or we are going to declare that we are going to establish these jobs, whereas the U.S. design is private sector-led model. And the disconnect here is that we are handling smaller sized economies, island nations, and in comparison of other investment chances in other countries in Latin America, much less worldwide, these are economies that usually aren't going to draw that big financial investment other than in a couple sectors like tourist like we have actually been speaking about. What the onus has to be https://www.bizjournals.com/nashville/c/meet-the-2020-best-places-to-work/12253/wesley-financial-group-llc.html is to discover ways to clear and develop a smooth economic space between the U.S. and the Caribbean so that economic sector capital can work. There are opportunities. Finally, I would state that the Caribbean is ending up being a a lot more complicated area since of the changes in policy towards Cuba, the cross-cutting trade arrangements such as CAFTA, et cetera, and we have to think of the Caribbean now in a larger sense. In regard to Haiti, I believe really crucial is its ongoing integration with the English-speaking Caribbean, because these are well developed democracies and it is a financial area which holds opportunities for Haiti and there is now quite a lot of Caribbean investment going into Haiti and vice versa.