And when the OAS under a very bold secretary basic, Luis Almagro, tries 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 assistance of the hemisphere, and certainly much of the Caribbean Basin has actually not accompanied that. And if you line up the votes, who enacted favor and who stayed away, you can do a pretty easy one for one comparison based upon who is a member of Petrocaribe. And so the implication of your question I think is spot on, you know, and that is why I believe when we talk about the Caribbean in Washington, often we believe about it in the context of, you know, island countries or programs or social advancement, and all of these are very, very essential concerns.
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And the dividends settle down the road when Venezuela itself is in the spotlight of the worldwide neighborhood. Then they have buddies that they can count on and it pays dividends for them - How to find the finance charge. 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 develop towards reversing that course. Ms. Yearwood. I agree one hundred percent with Eric. Venezuela stepped in at a time that was really essential for much of the region and now the region is quite paying the rate, whether it is in financial obligation 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. A boost in the expense of energy likewise. Ms. Yearwood. Oh, absolutely, absolutely. Therefore I think to the point, we are at an essential juncture now with the expense of energy being what it is with the U.S. energy supply increasing and the read more region taking a look at ways to increase sustainable energy, whether it is through gas or getting the region less depending 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 occur by accident.
The other concern that I have is the significant boost of China in this region. You understand, we seem to be put to a lull of sleep or something because everyone seems https://www.globalbankingandfinance.com/category/news/record-numbers-of-consumers-continue-to-ask-wesley-financial-group-to-assist-in-timeshare-debt-relief/ to move in and then we react. And we do not appear to capture these things until something like this occurs, you understand, like Venezuela. So regrettably, you understand, given that I have been here we have actually been pushing-- and I understand Mr. Meeks and the other members that are here, you know, this is an essential region for us. It is an important region for America and we really must focus.
They are going to go through the Panama Canal and they are available in and they toss money, you understand, at these little countries, which in truth they can't afford not to accept the money. So just how much of impact exists now of the Chinese? And I know it is growing, but-- Ms. Yearwood. The Chinese impact, it is actually extremely intriguing to see the way China has sort of entered the region and the types of projects. In some cases it is a sports stadium - What is a consumer finance account. I believe the current, the Baha Mar fiasco in the Bahamas, you have seen the Chinese Government been available in in a manner that the U.S.
If a Chinese developer comes into a country in the area they have the Chinese financing and the Chinese Government behind them. Mr. Sires. And the employees. Ms. Yearwood. And the employees. And so you have effectively got a package that the U.S - What is the difference between accounting and finance. can not-- the Foreign Corrupt Practices Act and all sorts of other reasons, the U.S. can not complete in regards to the types of investment that they are able to take in without type of needing to do the due diligence behind it. And it is very welcome in a great deal of places, but what Baha Mar has revealed us is that it can create a very hard situation for the nations where they go.
Farnsworth. I think Sally raises a truly fascinating Visit this site and crucial point in this context. What does etf stand for in finance. You know, the Chinese or Venezuelan model is a state-led model, so the capital of the nation, the leaders in the country can state this is what we are going to do. We are going to produce Petrocaribe or we are going to develop a sports stadium or we are going to declare that we are going to develop these projects, whereas the U.S. design is private sector-led design. And the detach here is that we are dealing with smaller economies, island nations, and in contrast of other financial investment opportunities in other countries in Latin America, much less worldwide, these are economies that typically aren't going to draw that large financial investment except in a couple sectors like tourism like we have been talking about. What the onus needs to be is to discover ways to clear and develop a seamless financial space between the U.S. and the Caribbean so that economic sector capital can work. There are chances. Finally, I would state that the Caribbean is ending up being a a lot more complex area due to the fact that of the changes in policy toward Cuba, the cross-cutting trade contracts such as CAFTA, et cetera, and we need to think about the Caribbean now in a wider sense. In regard to Haiti, I think really essential is its continued integration with the English-speaking Caribbean, due to the fact that these are well established democracies and it is an economic area which holds chances for Haiti and there is now rather a great deal of Caribbean financial investment going into Haiti and vice versa.