The Wednesday Briefs 171 - 7 June 2023

THIS WEEK: Global Civilization Initiative; Ukraine Resolution?; OPEC Loses Control; S&P Sectors Update.

GLOBAL CIVILIZATION INITIATIVE

China's myriad efforts to reshape the world order, and to diminish US influence while promoting its own, have included the Belt and Road Initiative (unkindly dubbed Debt and Road by some), the drive towards de-dollarization, hosting peace talks between intractable adversaries (for example, Iran and Saudi Arabia), and banning the use of English in some international negotiations. But there is also the ambitiously named Global Civilization Initiative (GCI) which, according to this article in The Diplomat,

"sits alongside the previously announced Global Development Initiative (GDI) and Global Security Initiative (GSI) as a triumvirate of complementary, if amorphous, concepts in the “Community of Common Destiny,” which Xi and the Chinese Communist Party are advancing as Beijing’s alternative to the Western-dominated “rul…