And when the OAS under a very brave secretary basic, Luis Almagro, attempts to bring the institution 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 undoubtedly much of the Caribbean Basin has not gone along with that. And if you line up the votes, who voted in favor and who stayed away, you can do a pretty easy one for one contrast based upon who belongs to Petrocaribe. And so the ramification of your concern I believe is area on, you know, which is why I believe when we speak about 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 very, extremely important problems.
And the dividends settle down the road when Venezuela itself is in the spotlight of the worldwide neighborhood. Then they have good friends that they can rely on and it pays dividends for them - Which of the following was eliminated as a result of 2002 campaign finance reforms?. 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 agree 100 percent with Eric. Venezuela stepped Website link in at a time that was extremely crucial for much of the region and now the region is extremely much paying the price, whether it is in financial obligation or other areas connected to votes and other requirements that they do as a result of the-- Mr.
Increased https://www.youtube.com/channel/UCRFGul7bP0n0fmyxWz0YMAA expenses in energy too now. Ms. Yearwood. Sorry? Mr. Sires. A boost in the expense of energy also. Ms. Yearwood. Oh, absolutely, absolutely. 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 increasing and the region looking at methods to increase sustainable energy, whether it is through gas or getting the region less dependent on Petrocaribe and able to make these switches to brand-new kinds of energy is going to make a big distinction. Mr. Sires. See, I don't think things happen by accident.
The other concern that I have is the substantial increase of China in this area. You know, we seem to be put to a lull of sleep or something due to the fact that everyone seems to move in and after that we respond. And we don't seem to capture these things up until something like this happens, you understand, like Venezuela. So regrettably, you understand, given that I have actually been here we have been pushing-- and I understand Mr. Meeks and the other members that are here, you understand, this is an essential area for us. It is an important region for America and we really ought to concentrate.
They are going to go through the Panama Canal and they can be found in and they throw money, you understand, at these small countries, which in reality they can't manage not to accept the cash. So how much of influence exists now of the Chinese? And I know it is growing, but-- Ms. Yearwood. The Chinese impact, it is actually extremely fascinating to view the way China has sort of entered the region and the kinds of tasks. Often it is a sports arena - What is a note in finance. I think the recent, the Baha Mar fiasco in the Bahamas, you have seen the Chinese Federal government been available in in such a way that the U.S.
If a Chinese designer enters 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 employees. Therefore you have effectively got a plan that the U.S - What does ear stand for in finance. can not-- the Foreign Corrupt Practices https://www.inhersight.com/companies/best/size/medium Act and all sorts of other factors, the U.S. can not compete in regards to the kinds of financial investment that they have the ability to take in without type of having to do the due diligence behind it. And it is extremely welcome in a lot of locations, however what Baha Mar has shown us is that it can create a really hard circumstance for the countries where they go.
Farnsworth. I believe Sally raises an actually intriguing and crucial point in this context. Why are you interested in finance. You understand, 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 develop Petrocaribe or we are going to develop a sports stadium or we are going to declare 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 economies, island nations, and in comparison of other 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 financial investment other than in a couple sectors like tourist like we have actually been talking about. What the onus needs to be is to find ways to clear and establish a seamless financial space in between the U.S. and the Caribbean so that economic sector capital can work. There are opportunities. Finally, I would state that the Caribbean is ending up being a much more complex location due to the fact that of the changes in policy towards Cuba, the cross-cutting trade arrangements such as CAFTA, et cetera, and we need to believe of the Caribbean now in a broader sense. In regard to Haiti, I believe very essential is its continued combination with the English-speaking Caribbean, due to the fact that these are well developed democracies and it is a financial area which holds chances for Haiti and there is now quite a lot of Caribbean investment going into Haiti and vice versa.