And when the OAS under a very brave secretary basic, Luis Almagro, tries 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 voted in favor and who abstained, you can do a pretty Discover more here simple one for one comparison based upon who belongs to Petrocaribe. Therefore the implication of your concern I think is spot on, you know, which is why I think when we speak about the Caribbean in Washington, oftentimes we consider it in the context of, you understand, island countries or programs or social advancement, and all of these are really, really important concerns.
And the dividends pay off down the roadway when Venezuela itself remains in the spotlight of the worldwide community. Then they have pals that they can count on and it pays dividends for them - What happened to yahoo finance portfolios. So I think that at the end of the day that is a lesson honestly that we can find out, and I think we can develop towards reversing that course. Ms. Yearwood. I agree one hundred percent with Eric. Venezuela stepped in at a time that was extremely essential for much of the region and now the area is quite paying the rate, whether it is in debt or other areas connected to votes and other requirements that they do as an outcome of the-- Mr.
Increased costs in energy too now. Ms. Yearwood. Sorry? Mr. Sires. An increase in the cost of energy likewise. Ms. Yearwood. Oh, definitely, absolutely. And so I https://www.greatplacetowork.com/certified-company/7022866 believe 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 going up and the 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 brand-new kinds of energy is going to make a big difference. Mr. Sires. See, I do not believe things occur by accident.
The other issue 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 relocate and after that we react. And we do not seem to capture these things until something like this happens, you understand, like Venezuela. So sadly, you understand, given that I have actually been here we have actually been pushing-- 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 need to focus.
They are going to go through the Panama Canal and they can be found in and they throw money, you know, at these small nations, which in reality they can't afford not to accept the cash. So how much of influence is there now of the Chinese? And I understand it is growing, however-- Ms. Yearwood. The Chinese influence, it is really really intriguing to view the method China has sort of entered into the area and the kinds of tasks. In some cases it is a sports stadium - How to finance an investment property. I believe the recent, the Baha Mar fiasco in the Bahamas, you have seen the Chinese Federal government come in in a method that the U.S.
If a Chinese developer comes into a country in the area they have the Chinese financing and the Chinese Federal government behind them. Mr. Sires. And the staff members. Ms. Yearwood. And the employees. And so you have efficiently got a bundle that the U.S - What is a finance charge on a credit card. can not-- the Foreign Corrupt Practices Act and all sorts of other reasons, the U.S. can not contend in regards to the kinds of investment that they have the ability to take in without type of having to do the due diligence behind it. And it is really welcome in a great deal of locations, however what Baha Mar has revealed us is that it can create an extremely tight spot for the nations where they go.
Farnsworth. I believe Sally raises an actually interesting and essential point in this context. The trend in campaign finance law over time has been toward which the following?. You know, the Chinese or Venezuelan model is a state-led design, so the capital of the country, the leaders in the nation can state this is what we are going to do. We are going to create Petrocaribe or we are timeshare lawyers near me going to build a sports stadium or we are going to state that we are going to establish these jobs, whereas the U.S. model is personal sector-led model. And the detach here is that we are dealing with smaller sized economies, island countries, and in comparison of other financial investment opportunities in other countries in Latin America, much less around the world, these are economies that usually aren't going to draw that large financial investment other than in a couple sectors like tourism like we have been discussing. What the onus has to be is to find methods to clear and develop a seamless economic area between the U.S. and the Caribbean so that economic sector capital can work. There are opportunities. Lastly, I would state that the Caribbean is ending up being a much more complex area due to the fact that of the modifications in policy towards Cuba, the cross-cutting trade contracts such as CAFTA, et cetera, and we need to think of the Caribbean now in a broader sense. In regard to Haiti, I believe very essential is its continued integration with the English-speaking Caribbean, since these are well developed democracies and it is an economic area which holds chances for Haiti and there is now quite a great deal of Caribbean financial investment entering into Haiti and vice versa.