And when the OAS under a really courageous secretary general, Luis https://www.inhersight.com/company/wesley-financial-group-llc Almagro, attempts to bring the institution towards recognizing that Venezuela is no longer in compliance with the Inter-American Democratic Charter, he is not getting the complete assistance of the hemisphere, and certainly much of the Caribbean Basin has actually not supported that. And if you line up the votes, who enacted favor and who abstained, you can do a pretty simple one for one comparison based on 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 think about it in the context of, you understand, island nations or programs or social advancement, and all of these are very, very important concerns.
And the dividends pay off down the roadway when Venezuela itself remains in the spotlight of the global community. Then they have pals that they can depend on and it pays dividends for them - How do you finance a car. So I think that at the end of the day that is a lesson frankly that we can learn, and I think we can build toward reversing that course. Ms. Yearwood. I concur 100 percent with Eric. Venezuela actioned in at a time that was very essential for much of the area and now the area is quite paying the rate, whether it is in financial obligation or other areas related to votes and other requirements that they do as an outcome 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. And so I think to the point, we are at an essential juncture now with the cost of energy being what it is with the U.S. energy supply increasing and the area 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 types of energy is going to make a huge distinction. Mr. Sires. See, I do not believe things happen by accident.
The other issue that I have is the significant increase of China in this region. You understand, we appear to be put to a lull of sleep or something since everybody seems to move in and after that we react. And we how do you get out of a timeshare contract do not seem to capture these things up until something like this occurs, you know, like Venezuela. So unfortunately, you know, given that I have been here we have been pressing-- and I know Mr. Meeks and the other members that are here, you know, this is an essential area for us. It is a crucial region for America and we really must concentrate.
They are going to go through the Panama Canal and they can be found in and they throw cash, you know, at these little nations, which in reality they can't pay for 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 influence, it is in fact very interesting to see the method China has kind of entered into the region and the types of jobs. Often it is a sports arena - What do you need to finance a car. I think the recent, the Baha Mar fiasco in the Bahamas, you have actually seen the Chinese Federal government can be found in in such a way that the U.S.
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If a Chinese designer enters a nation in the region they have the Chinese financing and the Chinese Government behind them. Mr. Sires. And the employees. Ms. Yearwood. And the workers. Therefore you have actually effectively got a package that the U.S - How to finance an investment property. 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 financial investment that they are able to take in without sort of having to do the due diligence behind it. And it is very welcome in a lot of locations, but what Baha Mar has actually revealed us is that it can produce a really tight spot for the countries where they go.
Farnsworth. I think Sally raises a truly interesting and crucial point in this context. How to finance a home addition. You understand, the Chinese or Venezuelan model is a state-led design, 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 create Petrocaribe or we are going to develop a sports stadium or we are going to state that we are going to develop these projects, whereas the U.S. design is personal sector-led design. And the detach here is that we are handling smaller economies, island nations, and in comparison of other financial investment opportunities in other nations in Latin America, much less around the world, these are economies that generally aren't going to draw that big financial investment timeshare basics other than in a couple sectors like tourism like we have actually been discussing. What the onus needs to be is to find methods to clear and develop a seamless financial 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 becoming a much more intricate area due to the fact that of the changes in policy towards Cuba, the cross-cutting trade agreements such as CAFTA, et cetera, and we have to think about the Caribbean now in a larger sense. In regard to Haiti, I believe very crucial is its continued integration with the English-speaking Caribbean, since these are well established democracies and it is an economic area which holds opportunities for Haiti and there is now quite a lot of Caribbean financial investment going into Haiti and vice versa.