And when the OAS under an extremely brave secretary general, Luis Almagro, tries 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 certainly much of the Caribbean Basin has actually not gone along with that. And if you line up the votes, who enacted favor and who stayed away, you can do a pretty easy one for one contrast based upon who belongs to Petrocaribe. Therefore the implication of your question I believe is area on, you know, which is why I think when we talk about the Caribbean in Washington, usually we think about it in the context of, you understand, island nations or programs or social development, and all of these are extremely, very crucial problems.
And the dividends pay off down the roadway when Venezuela itself remains in the spotlight of the international community. Then they have pals that they can count on and it pays dividends for them - Which of these arguments might be used by someone who supports strict campaign finance laws?. So I believe that at the end of the day that is a lesson frankly that we can find out, and I believe we can develop toward reversing that course. Ms. Yearwood. I agree one hundred percent with Eric. Venezuela stepped in at a time that was very crucial for much of the area and now the region is quite paying the rate, whether it is in financial obligation or other areas connected to votes and other requirements that they do as a result of the-- Mr.
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Increased costs in energy too now. Ms. Yearwood. Sorry? Mr. Sires. A boost in the cost of energy also. Ms. Yearwood. Oh, absolutely, definitely. And so I believe timesharing today 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 looking at methods to increase sustainable energy, whether it is through natural gas or getting the area less based on Petrocaribe and able to make these switches to brand-new types of energy is going to make a big difference. Mr. Sires. See, I don't believe things happen by mishap.
The other issue that I have is the considerable boost of China in this region. You know, we appear to be put to a lull of sleep or something since everyone appears to relocate and then we react. And we do not appear to https://www.inhersight.com/companies/best/reviews/management-opportunities capture these things till something like this takes place, you understand, like Venezuela. So sadly, you know, considering that I have been here we have 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 an important area for America and we truly ought to concentrate.
They are going to go through the Panama Canal and they are available in and they toss cash, you know, at these little nations, which in truth they can't pay for not to accept the money. So just how much of impact exists now of the Chinese? And I understand it is growing, however-- Ms. Yearwood. The Chinese impact, it is really extremely interesting to see the method China has sort of come into the area and the types of tasks. In some cases it is a sports arena - What does ltm mean in finance. I think the recent, the Baha Mar fiasco in the Bahamas, you have seen the Chinese Federal government come in in a way that the U.S.
If a Chinese developer comes into a nation in the region they have the Chinese financing and the Chinese Federal government behind them. Mr. Sires. And the workers. Ms. Yearwood. And the workers. And so you have actually efficiently got a bundle that the U.S - What does ach stand for in finance. can not-- the Foreign Corrupt Practices Act and all sorts of other reasons, the U.S. can not contend in terms of the types of investment that they are able to take in without type of needing to do the due diligence behind it. And it is really welcome in a lot of locations, however what Baha Mar has revealed us is that it can produce an extremely challenging situation for the countries where they go.
Farnsworth. I think Sally raises an actually intriguing and essential point in this context. What does ltm mean in finance. You understand, the Chinese or Venezuelan model is a state-led model, so the capital of the nation, the leaders in the nation can say this is what we are going to do. We are going to develop Petrocaribe or we are going to build a sports arena or we are going to state that we are going to develop these projects, whereas the U.S. model is personal sector-led design. And the disconnect here is that we are dealing with smaller sized economies, island countries, and in comparison of other financial investment chances in other countries in Latin America, much less around the world, these are economies that generally aren't going to draw that large investment except in a couple sectors like tourist like we have been discussing. What the onus has to be is to find methods to clear and develop a seamless economic 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 location since of the modifications in policy towards Cuba, the cross-cutting trade arrangements such as CAFTA, et cetera, and we need to consider the Caribbean now in a broader sense. In regard to Haiti, I believe extremely essential is its continued integration with the English-speaking Go here Caribbean, since these are well established democracies and it is a financial area which holds opportunities for Haiti and there is now rather a great deal of Caribbean financial investment going into Haiti and vice versa.