And when the OAS under a really bold secretary general, Luis Almagro, attempts to bring the organization 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 actually not gone along with that. And if you line up the votes, who enacted favor and who stayed away, you can do a quite easy one for one comparison based on who belongs to Petrocaribe. Therefore the implication of your question I believe is spot on, you understand, which is why I think when we discuss the Caribbean in Washington, usually we believe about it in the context of, you understand, island nations or programs or social advancement, and all of these are really, really crucial issues.
And the dividends settle down the roadway when Venezuela itself remains in the spotlight of the worldwide community. Then they have friends that they can count on and it reviews on wesley financial group pays dividends for them - What can i do with a degree in finance. So I believe that at the end of the day that is a https://www.globenewswire.com/news-release/2020/03/12/1999688/0/en/WESLEY-FINANCIAL-GROUP-SETS-COMPANY-RECORD-FOR-TIMESHARE-CANCELATIONS-IN-FEBRUARY.html lesson frankly that we can find out, and I believe we can develop towards reversing that course. Ms. Yearwood. I agree 100 percent with Eric. Venezuela actioned in at a time that was really important for much of the area and now the area is quite paying the cost, whether it owes money or other locations related to votes and other requirements that they do as an outcome of the-- Mr.
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Increased expenses in energy too now. Ms. Yearwood. Sorry? Mr. Sires. A boost in the expense of energy likewise. Ms. Yearwood. Oh, definitely, definitely. And so I believe to the point, we are at a crucial point 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 natural gas or getting the region less based on Petrocaribe and able to make these switches to brand-new types of energy is going to make a huge distinction. Mr. Sires. See, I do not believe things happen by mishap.
The other concern that I have is the considerable boost of China in this region. You understand, we appear to be put to a lull of sleep or something due to the fact that everyone seems to move in and then we react. And we don't seem to capture these things timeshare maintenance fee default till something like this occurs, you know, like Venezuela. So unfortunately, you know, since I have actually been here we have actually been pushing-- and I understand Mr. Meeks and the other members that are here, you understand, this is an important area for us. It is an important region for America and we actually should concentrate.
They are going to go through the Panama Canal and they come in and they toss money, you know, at these small countries, which in truth they can't manage not to accept the cash. So how much of impact exists now of the Chinese? And I know it is growing, however-- Ms. Yearwood. The Chinese impact, it is actually very intriguing to enjoy the way China has actually type of entered into the region and the kinds of projects. In some cases it is a sports stadium - How to finance a car from a private seller. I believe the recent, the Baha Mar ordeal in the Bahamas, you have actually seen the Chinese Federal government been available in in a method that the U.S.
If a Chinese designer comes into a country in the region they have the Chinese financing and the Chinese Federal government behind them. Mr. Sires. And the staff members. Ms. Yearwood. And the workers. And so you have effectively got a plan that the U.S - What is a consumer finance account. can not-- the Foreign Corrupt Practices Act and all sorts of other factors, the U.S. can not contend in terms of the kinds 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 lot of locations, but what Baha Mar has revealed us is that it can produce a very challenging situation for the countries where they go.
Farnsworth. I believe Sally raises an actually fascinating and crucial point in this context. How do you finance a car. You know, the Chinese or Venezuelan design is a state-led model, so the capital of the nation, the leaders in the country can say this is what we are going to do. We are going to produce 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 private sector-led model. And the detach here is that we are handling smaller sized economies, island countries, and in contrast of other financial investment opportunities in other countries in Latin America, much less worldwide, these are economies that usually aren't going to draw that large investment other than 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 establish a smooth economic space between the U.S. and the Caribbean so that economic sector capital can work. There are opportunities. Last but not least, I would state that the Caribbean is ending up being a a lot more complicated area because of the changes in policy towards Cuba, the cross-cutting trade contracts such as CAFTA, et cetera, and we have to think of the Caribbean now in a wider sense. In regard to Haiti, I think really important is its ongoing integration with the English-speaking Caribbean, due to the fact that these are well developed democracies and it is an economic area which holds chances for Haiti and there is now quite a lot of Caribbean financial investment going into Haiti and vice versa.