And when the OAS under a really bold secretary general, Luis Almagro, tries 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 support of the hemisphere, and indeed much of the Caribbean Basin has actually not accompanied that. And https://www.bintelligence.com/blog/2020/2/17/34-companies-named-2020-best-places-to-work if you dreams timeshare 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 belongs to Petrocaribe. Therefore the ramification of your concern I think is area on, you know, and that is why I think when we speak about the Caribbean in Washington, oftentimes we consider it in the context of, you understand, island nations or programs or social advancement, and all of these are really, really important concerns.
And the dividends pay off down the road when Venezuela itself is in the spotlight of the worldwide neighborhood. Then they have buddies that they can count on and it pays dividends for them - Which one of the following occupations best fits into the corporate area https://www.chamberofcommerce.com/united-states/tennessee/franklin/resorts-time-share/1340479993-wesley-financial-group of finance?. So I believe that at the end of the day that is a lesson honestly that we can find out, and I think we can build towards reversing that course. Ms. Yearwood. I concur one hundred percent with Eric. Venezuela actioned in at a time that was very crucial for much of the region and now the area is quite paying the cost, whether it is in financial obligation or other areas related to votes and other requirements that they do as a result of the-- Mr.
Increased expenses in energy too now. Ms. Yearwood. Sorry? Mr. Sires. A boost in the cost of energy likewise. Ms. Yearwood. Oh, definitely, absolutely. Therefore I believe to the point, we are at an important point 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 reliant on Petrocaribe and able to make these switches to new kinds of energy is going to make a big difference. Mr. Sires. See, I do not believe things happen by accident.
The other issue that I have is the substantial boost of China in this region. You understand, we seem to be put to a lull of sleep or something due to the fact that everyone appears to move in and then we respond. And we do not seem to catch these things until something like this happens, you know, like Venezuela. So unfortunately, you know, considering that I have 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 really need to concentrate.
They are going to go through the Panama Canal and they are available in and they throw cash, you understand, at these little countries, which in truth they can't afford not to accept the cash. So just how much of impact is there now of the Chinese? And I know it is growing, but-- Ms. Yearwood. The Chinese influence, it is really really fascinating to enjoy the way China has actually kind of entered into the region and the types of tasks. Often it is a sports arena - How to find the finance charge. I think the current, the Baha Mar ordeal in the Bahamas, you have seen the Chinese Federal government can be found in in a manner that the U.S.
If a Chinese designer enters a country in the region they have the Chinese funding and the Chinese Government behind them. Mr. Sires. And the workers. Ms. Yearwood. And the workers. Therefore you have actually efficiently got a plan that the U.S - What is a note in finance. can not-- the Foreign Corrupt Practices Act and all sorts of other factors, the U.S. can not compete in terms of the kinds of investment that they have the ability to take in without kind of having to do the due diligence behind it. And it is really welcome in a great deal of places, however what Baha Mar has shown us is that it can develop a really hard situation for the nations where they go.
Farnsworth. I think Sally raises an actually interesting and crucial point in this context. What is a swap 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 can say this is what we are going to do. We are going to produce Petrocaribe or we are going to build a sports arena or we are going to state that we are going to develop these jobs, whereas the U.S. design is private sector-led model. And the disconnect here is that we are handling smaller sized economies, island countries, and in comparison of other financial investment chances in other nations in Latin America, much less around the world, these are economies that normally 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 find methods to clear and establish a seamless economic area in between the U.S. and the Caribbean so that economic sector capital can work. There are chances. Last but not least, I would say that the Caribbean is becoming a a lot more complex area since of the changes in policy towards Cuba, the cross-cutting trade arrangements such as CAFTA, et cetera, and we have to think about the Caribbean now in a broader sense. In regard to Haiti, I think very essential is its continued integration with the English-speaking Caribbean, since these are well developed democracies and it is a financial location which holds opportunities for Haiti and there is now quite a lot of Caribbean investment going into Haiti and vice versa.