The SCMP’s Lai See column quotes my Chinese diamond market piece

In “Chips in the diamond trade“, the South China Morning Post summarises the main points from my interview with a Chinese diamond trader.

Lai See notes:

  • “The crackdown on corruption on the mainland has hurt the luxury business, including the diamond industry.”
  • “The website Asia Cracked has an interview with a mainland diamond trader who says diamond prices and demand have fallen 8-10 per cent from a year ago.”
  • The fall in consumer confidence in China and India.
  • The cartel behaviour of De Beers and other suppliers cutting supply to keep rough diamond prices high, while polished prices fall.
  • The increase and then fall in carat size tracked China’s monster four trillion RMB fiscal stimulus.

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