And when the OAS under a very bold secretary general, Luis Almagro, attempts to bring the organization toward acknowledging that Venezuela is no longer in compliance with the Inter-American Democratic Charter, he is not getting the complete assistance of the hemisphere, and indeed much of the Caribbean Basin has not accompanied that. And if you line up the votes, who voted in favor and who stayed away, you can do a quite easy one for one comparison based upon who is a member of Petrocaribe. Therefore the implication of your concern I believe is area on, you know, and that is why I think when we discuss the Caribbean in Washington, frequently we consider it in the context of, you know, island countries or programs or social advancement, and all of these are extremely, very important 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 rely on and it pays dividends for them - How to finance a second home. So I think that at the end of the day that is a lesson honestly that we can learn, and I think we can construct timeshares should be illegal towards reversing that course. Ms. Yearwood. I concur 100 percent with Eric. Venezuela stepped in at a time that was extremely important for much of the area and now the area is extremely much paying the price, whether it owes money or other locations related to votes and other requirements that they do as an outcome of the-- Mr.
Increased costs in energy https://www.bintelligence.com/blog/2020/4/20/52-names-leading-the-way-in-customer-service too now. Ms. Yearwood. Sorry? Mr. Sires. An increase in the cost of energy also. Ms. Yearwood. Oh, absolutely, absolutely. And so I believe to the point, we are at an essential point now with the expense of energy being what it is with the U.S. energy supply going up and the area looking at methods to increase sustainable energy, whether it is through gas or getting the region less based on Petrocaribe and able to make these switches to brand-new kinds of energy is going to make a substantial distinction. Mr. Sires. See, I do not believe things take place by mishap.
The other issue that I have is the significant increase of China in this region. You understand, we seem to be put to a lull of sleep or something because everyone appears to move in and after that we react. And we don't seem to catch these things until something like this occurs, you understand, like Venezuela. So sadly, you know, since I have actually been here we have actually been pushing-- and I know Mr. Meeks and the other members that are here, you understand, this is an important region for us. It is an important region for America and we truly ought to concentrate.
They are going to go through the Panama Canal and they can be found in and they toss cash, you understand, at these small nations, which in reality 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, but-- Ms. Yearwood. The Chinese influence, it is in fact extremely intriguing to view the way China has sort of come into the region and the kinds of projects. Often it is a sports stadium - How to owner finance a home. I believe the recent, the Baha Mar debacle in the Bahamas, you have actually seen the Chinese Federal government can be found in in a way that the U.S.
If a Chinese designer enters 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 staff members. Therefore you have efficiently got a bundle that the U.S - What is a cd in finance. 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 financial investment that they are able to take in without sort of having to do the due diligence behind it. And it is really welcome in a lot of locations, however what Baha Mar has revealed us is that it can produce an extremely tight spot for the countries where they go.
Farnsworth. I think Sally raises an actually interesting and crucial point in this context. What is a future in finance. You understand, the Chinese or Venezuelan model is a state-led model, so the capital of the country, the leaders in the nation https://www.businesswire.com/news/home/20190911005618/en/Wesley-Financial-Group-Continues-Record-Breaking-Pace-Timeshare can say this is what we are going to do. We are going to develop Petrocaribe or we are going to build a sports stadium or we are going to declare that we are going to develop these jobs, 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 financial investment chances in other countries in Latin America, much less worldwide, these are economies that generally aren't going to draw that big investment other than in a couple sectors like tourist like we have actually been speaking about. What the onus has to be is to discover methods to clear and establish a seamless economic space in between the U.S. and the Caribbean so that economic sector capital can work. There are opportunities. Lastly, I would say that the Caribbean is becoming a much more intricate location due to the fact that of the changes in policy toward Cuba, the cross-cutting trade agreements such as CAFTA, et cetera, and we need to think about the Caribbean now in a broader 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 a financial area which holds opportunities for Haiti and there is now rather a great deal of Caribbean investment going into Haiti and vice versa.