And when the OAS under a really brave secretary basic, Luis Almagro, attempts to bring the institution towards acknowledging that Venezuela is no longer in compliance with the Inter-American Democratic Charter, he is not getting the full support of the hemisphere, and undoubtedly much of the Caribbean Basin has not accompanied that. And if you line up the votes, who enacted favor and who stayed away, you can do a quite simple one for one contrast based upon who belongs https://www.trustpilot.com/review/timesharecancellations.com to Petrocaribe. And so the implication of your question I believe is area on, you understand, and that is why I believe when we speak about the Caribbean in Washington, often we believe about it in the context of, you understand, island nations or programs or social development, and all of these are very, very essential issues.
And the dividends pay off down the roadway when Venezuela itself remains in the spotlight of the global neighborhood. Then they have buddies that they can depend on and it pays dividends for them - How long can you finance a used car. So I believe that at the end of the day that is a lesson honestly that we can find out, and I believe we can build towards reversing that course. Ms. Yearwood. I agree one hundred percent with Eric. Venezuela actioned in at a time that was extremely crucial for much of the region and now the region is quite paying the rate, whether it owes money or other locations associated with votes and other requirements that they do as a result of the-- Mr.
Increased expenses in energy too now. Ms. Yearwood. Sorry? Mr. Sires. An increase in the expense of energy also. Ms. Yearwood. Oh, definitely, definitely. And so I believe to the point, we are at an essential juncture now with the cost of energy being what it is with the U.S. energy supply increasing and the region looking at ways to increase sustainable energy, whether it is through gas or getting the region less based on Petrocaribe and able to make these switches to new types of energy is going to make a substantial distinction. Mr. Sires. See, I don't think things happen by mishap.
The other issue that I have is the significant increase of China in this area. You understand, we appear to be put to a lull of sleep or something because everybody seems to relocate and after that we react. And we don't appear to capture these things until something like this occurs, you know, like Venezuela. So sadly, you understand, 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 know, this is an important region for us. It is an essential area for America and we actually must concentrate.
They are going to go through the Panama Canal and they come in and they throw money, you know, at these small countries, which in reality they can't manage not to accept the cash. So how much of impact is there now of the Chinese? And I know it is growing, but-- Ms. Yearwood. The Chinese impact, it is in fact very intriguing to enjoy the method China has kind of come into the area and the types of tasks. In some cases it is a sports stadium - What is a note in finance. I believe the recent, the Baha Mar ordeal in the Bahamas, you have seen the Chinese Federal government come in in a method that the U.S.
If a Chinese developer comes into a nation in the area they have the Chinese funding and the Chinese Federal government behind them. Mr. Sires. And the staff members. Ms. Yearwood. And the employees. Therefore you have actually effectively got a plan that the U.S - What jobs can i get with a finance letter of cancellation of services degree. can not-- the Foreign Corrupt Practices Act and all sorts of other factors, the U.S. can not complete in regards to the kinds of financial investment that they are able to take in without type of having to do the due diligence behind it. And it is very welcome in a great deal of locations, but what Baha Mar has actually shown us is that it can produce an extremely tight spot for the nations where they go.
Farnsworth. I think Sally raises an actually fascinating and crucial point in this context. How many years can you finance a boat. You understand, the Chinese or Venezuelan design is a state-led model, so the capital of the country, the leaders in the nation can state this is what we are going to do. We are going to develop Petrocaribe or we are going to build a sports arena or we are going to declare that we are going to establish these projects, whereas the U.S. model is private sector-led model. And the disconnect here is that we are dealing with smaller sized economies, island countries, and in comparison of other financial investment opportunities in other countries in Latin America, much less around the world, these are economies that normally aren't going to draw that large financial investment except in a couple sectors like tourist like we have been discussing. What the onus has to be is to find ways to clear and establish a smooth financial area in between the U.S. and the Caribbean so that economic sector capital can work. There are chances. Finally, I would say that the Caribbean is ending up being a much more complex location since of the changes in policy towards Cuba, the cross-cutting trade arrangements such as CAFTA, et cetera, and we have to consider the Caribbean now in a larger sense. In regard to Haiti, I think extremely essential is its how can you get out of a timeshare ongoing integration with the English-speaking Caribbean, due to the fact that these are well developed democracies and it is a financial location which holds chances for Haiti and there is now rather a great deal of Caribbean financial investment entering into Haiti and vice versa.
