And when the OAS under an extremely brave secretary basic, Luis Almagro, tries to bring the institution toward recognizing 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 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 on who belongs to Petrocaribe. And so the implication of your concern I believe is spot on, you understand, which is why I think when we discuss the Caribbean in Washington, often we think about it in the context of, you know, island countries or programs or social advancement, and all of these are extremely, really important concerns.
And the dividends pay off down the roadway when Venezuela itself is in the spotlight of the international community. Then they have pals that they can rely on and it pays dividends for them - What is internal rate of return in finance. So I believe https://www.instagram.com/wesleyfinancialgroupllc/ that at the end of the day that is a lesson frankly that we can discover, and I think we can develop towards reversing that course. Ms. Yearwood. I concur one hundred percent with Eric. Venezuela stepped in at a time that was really crucial for much of the area and now the area is quite paying the rate, whether it is in debt or other locations connected to votes and other requirements that they do as an outcome of the-- Mr.
Increased expenses in energy too now. Ms. Yearwood. Sorry? Mr. Sires. An increase in the expense of energy likewise. Ms. Yearwood. Oh, absolutely, absolutely. And so I think to the point, we are at an essential point now with the cost of energy 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 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 substantial distinction. Mr. Sires. See, I do not think things occur by mishap.
The other issue that I have is the considerable increase of China in this area. You know, we seem to be put to a lull of sleep or something because everyone appears to move in and after that we respond. And we don't appear to catch these things up until something like this happens, you know, like Venezuela. So sadly, you understand, given that I have actually been here we have actually been pressing-- and I know Mr. Meeks and the other members that are here, you know, this is an important area for us. It is a crucial area for America and we really need to focus.
They are going to go through the Panama Canal and they are available in and they throw money, you know, at these little nations, which in reality they can't manage not to accept the money. So how much of impact is there now of the Chinese? And I know it is growing, but-- Ms. Yearwood. The Chinese influence, it is actually really interesting to enjoy the method China has actually kind of entered into the area and the kinds of tasks. Sometimes it is a sports arena - What is a note in finance. I think the current, the Baha Mar fiasco in the Bahamas, you have actually seen the Chinese Government can be found in in a way that the U.S.
If a Chinese developer comes into a nation in the area they have the Chinese financing and the Chinese Federal government behind them. Mr. Sires. And the workers. Ms. Yearwood. And the staff members. Therefore you have effectively got a bundle that the U.S - What does leverage mean in finance. can not-- the Foreign Corrupt Practices Act and all sorts of other factors, the U.S. can not compete 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 lot of places, but what Baha Mar has shown us is that it can produce a very tight spot for the countries where they go.
Farnsworth. I believe Sally raises an actually fascinating and important point in this context. How to finance a car from a private seller. You know, the Chinese or Venezuelan design 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 produce Petrocaribe or we are going to develop a sports stadium or we are going to declare that we are going to develop these jobs, whereas the U.S. design is personal sector-led design. And the disconnect here is that we are dealing with smaller economies, island nations, and in comparison of other financial investment opportunities in other countries in Latin America, much less around the world, these are economies that typically aren't going to draw that large financial investment except in a couple sectors like tourism like we have actually been speaking about. What the onus https://www.facebook.com/ChuckMcDowellCEO/ needs to be is to discover ways to clear and develop a seamless financial area 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 ending up being a much more intricate location because of the modifications in policy toward Cuba, the cross-cutting trade agreements such as CAFTA, et cetera, and we need to believe of the Caribbean now in a broader sense. In regard to Haiti, I believe extremely crucial is its continued combination with the English-speaking Caribbean, because these are well established democracies and it https://www.businesswire.com/news/home/20200115005652/en/Wesley-Financial-Group-Founder-Issues-New-Year%E2%80%99s is an economic area which holds chances for Haiti and there is now rather a lot of Caribbean investment going into Haiti and vice versa.