And when the OAS under a really courageous secretary basic, Luis Almagro, attempts to bring the organization towards 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 certainly much of the Caribbean Basin has not gone along with that. And if you line up the votes, who voted in favor and who abstained, you can do a quite simple one for one contrast based on who is a member of Petrocaribe. And so the implication of your concern I believe is area on, you understand, and that is why I think when we discuss the Caribbean in Washington, usually we consider it in the context of, you know, island countries or programs or social advancement, and all of these are very, extremely essential concerns.
And the dividends settle down the road when Venezuela itself https://www.inhersight.com/companies/best/industry/finance is in the spotlight of the global community. Then they have buddies that they can count on and it pays dividends for them - What is a consumer finance company. So I believe that at the end of the day that is a lesson frankly that we can learn, and I believe we can develop towards reversing that course. Ms. Yearwood. I concur 100 percent with Eric. Venezuela stepped in at a time that was very important for much of the area and now the region is really much paying the price, 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 costs 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 a crucial juncture now with the cost of energy timeshare clubs being what it is with the U.S. energy supply going up and the area looking at ways to increase sustainable energy, whether it is through natural gas or getting the region less reliant on Petrocaribe and able to make these switches to brand-new kinds of energy is going to make a huge difference. Mr. Sires. See, I do not believe things happen by mishap.
The other concern 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 appears to relocate and after that we react. And we do not seem to capture these things up until something like this takes place, you know, like Venezuela. So regrettably, you know, because I have actually been here we have been pressing-- and I know Mr. Meeks and the other members that are here, you understand, this is a crucial area for us. It is a crucial region for America and we really should concentrate.
They are going to go through the Panama Canal and they come in and they toss money, you understand, at these small nations, which in reality they can't pay for 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 in fact really fascinating to see the method China has actually type of come into the region and the kinds of tasks. Sometimes it is a sports stadium - What does ltm mean in finance. I believe the current, the Baha Mar fiasco in the Bahamas, you have actually seen the Chinese Federal government been available in in a manner that the U.S.
If a Chinese designer enters into a nation in the region they have the Chinese funding and the Chinese Federal government behind them. Mr. Sires. And the employees. Ms. Yearwood. And the staff members. Therefore you have actually efficiently got a package that the U.S - How long can you finance a camper. can not-- the Foreign Corrupt Practices Act and all sorts of other factors, the U.S. can not compete in regards to the types of investment that they are able 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, but what Baha Mar has revealed us is that it can develop an extremely challenging circumstance for the nations where they go.
Farnsworth. I think Sally raises a truly interesting and crucial point in this context. How many years can you finance a boat. You know, the Chinese or Venezuelan model is a state-led model, so the capital of the country, the leaders in the country can state this is what we are going to do. We are going to produce 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. model is personal sector-led model. And the disconnect 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 worldwide, these are economies that generally aren't going to draw that large investment except in a couple sectors like tourism like we have actually been talking about. What the onus needs to be is to find methods to clear and develop a seamless economic area in between the U.S. and the Caribbean so that private sector capital can work. There are chances. Lastly, I would state that the Caribbean is becoming a far more complex location due https://www.businesswire.com/news/home/20190911005618/en/Wesley-Financial-Group-Continues-Record-Breaking-Pace-Timeshare to the fact that of the modifications in policy toward Cuba, the cross-cutting trade agreements such as CAFTA, et cetera, and we need to think of the Caribbean now in a larger sense. In regard to Haiti, I think extremely crucial is its continued combination with the English-speaking Caribbean, because 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.