And when the OAS under a really courageous secretary basic, Luis Almagro, tries to bring the organization towards recognizing 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 actually not supported that. And if you line up the votes, who voted in favor and who abstained, you can do a pretty easy one for one contrast based on who belongs to Petrocaribe. Therefore the ramification of your concern I think is area on, you know, which is why I think when we speak about the Caribbean in Washington, often we consider it in the context of, you know, island countries or programs or social advancement, and all of these are really, very essential concerns.
And the dividends pay off down the roadway when Venezuela itself is in the spotlight of the worldwide community. Then they have good friends that they can count on and it pays dividends for them - How many years can you finance a boat. So I think that at the end of the day that is a lesson buying timeshare foreclosure honestly that we can discover, and I think we can construct toward reversing that course. Ms. Yearwood. I agree one hundred percent with Eric. Venezuela stepped in at a time that was very important for much of the area and now the region is quite paying the price, whether it owes money or other areas related to 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 likewise. Ms. Yearwood. Oh, absolutely, definitely. Therefore I believe to the point, we are at an important juncture now with the expense of energy being what it is with the U.S. energy supply going up and the area looking at ways to increase sustainable energy, whether it is through natural gas or getting the area less dependent on Petrocaribe and able to make these switches to brand-new kinds of energy is going to make a big difference. Mr. Sires. See, I do not think things happen by accident.
The other concern that I have is the substantial boost of China in this region. You understand, we seem to be put to a lull of sleep or something since everybody appears to move in and after that we react. And we don't appear to capture these things till something like this takes place, you know, like Venezuela. So regrettably, you know, since I have actually been here we have been pressing-- and I know Mr. Meeks and the other members that are here, you understand, this is an important area for us. It is a crucial area for America and we really must focus.
They are going to go through the Panama Canal and they can be found in and they toss money, you understand, at these little countries, which in reality they can't pay for not to accept the money. So how much of influence is there now of the Chinese? And I know it is growing, but-- Ms. Yearwood. The Chinese impact, it is really very fascinating to enjoy the way China has actually type of come into the region and the types of tasks. Sometimes it is a sports arena - What are the two ways government can finance a budget deficit?. I believe the recent, the Baha Mar ordeal in the Bahamas, you have seen the Chinese Government been available in in a way that the U.S.
If a Chinese designer enters into a nation in the area they have the Chinese financing and the Chinese Government behind them. Mr. Sires. And the workers. Ms. Yearwood. And the employees. Therefore you have effectively got a bundle that the U.S - How to find the finance charge. can not-- the Foreign Corrupt Practices Act and all sorts of other factors, the U.S. can not complete in regards to the types of 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 lot of locations, but what Baha Mar has shown us is that it can create an extremely hard situation for the countries where they go.
Farnsworth. I believe Sally raises an actually intriguing and essential point in this context. What is a note in finance. You understand, the Chinese or Venezuelan design is a state-led model, so the capital of the nation, the leaders in the nation can say this is what we are going to do. We are going to develop Petrocaribe or we are going to construct a sports stadium or we are going to declare that we are going to establish these projects, whereas the U.S. design is personal sector-led design. And the detach here is that we are handling smaller sized economies, island countries, and in contrast of other investment opportunities in other countries in Latin America, much less worldwide, these are economies that usually aren't going to draw that large investment except in a couple sectors like tourist like we have been talking about. What the onus has to be is to discover ways to clear and establish a seamless economic space between the U.S. and the Caribbean so that personal sector capital can work. There are opportunities. Last but not least, I would state that the Caribbean is ending up being a far more complex location since of the modifications in policy toward Cuba, the cross-cutting trade agreements such as CAFTA, et cetera, and sell timeshare for free we need to think of the Caribbean now in a larger sense. In regard to Haiti, I think really important is its ongoing combination with the English-speaking Caribbean, since these are well https://wesleyfinancialgroupscholarship.com/apply/ established democracies and it is an economic area which holds chances for Haiti and there is now quite a great deal of Caribbean investment entering into Haiti and vice versa.