And when the OAS under an extremely brave 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 undoubtedly much of the Caribbean Basin has actually not gone along with that. And if you line up the votes, who voted in favor and who stayed away, you can do a pretty easy one for one comparison based on who belongs to Petrocaribe. And so the ramification of your concern I think is spot on, you understand, which is why I think when we talk about the Caribbean in Washington, often we consider it in the context of, you know, island nations or programs or social development, and all of these are extremely, very essential problems.
And the dividends pay off down the roadway when Venezuela itself remains in the spotlight of the global neighborhood. Then they have good friends that they can rely on and it pays dividends for them - What does ear stand for in finance. So I believe that at the end of the day that is a lesson frankly that we can discover, and I believe we can develop toward reversing that course. Ms. Yearwood. I agree one hundred percent with Eric. Venezuela actioned in at a time that was really important for much of the area and now the region is really much paying the cost, whether it is in financial obligation or other areas associated with votes and other requirements that they do as a result of the-- Mr.
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Increased expenses in energy too now. Ms. Yearwood. Sorry? Mr. Sires. An increase in the cost of energy likewise. Ms. Yearwood. Oh, definitely, definitely. Therefore I believe to the point, we are at a crucial juncture now with the expense of energy being what it is with the U.S. energy supply going up and the area taking a look at methods to increase sustainable energy, whether it is through gas or getting the region less dependent on Petrocaribe and able to make these switches to new kinds of energy is going to make a substantial distinction. Mr. Sires. See, I do not think things occur by mishap.
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 everybody seems to move in and after that we react. And we don't appear to capture these things till something like this takes place, you understand, like Venezuela. So regrettably, you understand, because I have actually been here we have actually been pressing-- 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 region for America and we actually ought to concentrate.
They are going to go through the Panama Canal and they come in and they toss cash, https://www.inhersight.com/companies/best/reviews/telecommute?_n=112289508 you know, at these little countries, which in truth they can't pay for not to accept the cash. So just how much of influence is Learn here there now of the Chinese? And I understand it is growing, but-- Ms. Yearwood. The Chinese impact, it is in fact very intriguing to see the method China has kind of entered the area and the types of jobs. Sometimes it is a sports arena - What is a consumer finance account. I believe the recent, the Baha Mar fiasco in the Bahamas, you have seen the Chinese Federal government can be found in in such a way that the U.S.
If a Chinese designer enters into a country in the area they have the Chinese funding and the Chinese Government behind them. Mr. Sires. And the workers. Ms. Yearwood. And the staff members. Therefore you have actually efficiently got a bundle that the U.S - How to finance a home addition. can not-- the Foreign Corrupt Practices Act and all sorts of other factors, the U.S. can not contend in regards to the kinds of financial investment that they are able to take in without type of needing to do the due diligence behind it. And it is really welcome in a great deal of locations, but what Baha Mar has revealed us is that it can create a very tight spot for the countries where they go.
Farnsworth. I think Sally raises an actually interesting and important point in this context. How many years can you finance a boat. You know, the Chinese or Venezuelan model 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 create Petrocaribe or we are going to construct a sports arena or we are going to state that we are going to develop these projects, whereas the U.S. model is personal sector-led model. And the disconnect here is that we are dealing with smaller economies, island nations, and in contrast of other investment opportunities in other nations in Latin America, much less around the world, these are economies that typically aren't going to draw that large financial investment except in a couple sectors like tourist like we have actually been discussing. What the onus has to be is to find ways to clear and establish a seamless economic area between the U.S. and the Caribbean so that personal sector capital can work. There are opportunities. Lastly, I would say that the Caribbean is becoming a much more complicated area due to the fact that of the changes in policy towards Cuba, the cross-cutting trade arrangements such as CAFTA, et cetera, and we need to think of the Caribbean now in a wider sense. In regard to Haiti, I believe really essential is its continued combination with the English-speaking Caribbean, due to the fact that these are well established democracies and it is a financial area which holds chances for Haiti and there is now rather https://www.chamberofcommerce.com/united-states/tennessee/franklin/resorts-time-share/1340479993-wesley-financial-group a lot of Caribbean financial investment going into Haiti and vice versa.