There has been a lot of speculation and doomsday predicting in the wake of the De Beers announcement that it was launching its own synthetic jewellery line. Much of the reaction is driven by genuine fear. As an industry, we have been battling the insidious devaluation of our product by the undisclosed mixing of synthetics in parcels of natural diamonds.
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The global diamond pipeline is now worriedly contemplating the near-to-medium future in the light of the China economic slowdown and the drag-down effect it is having on a whole bunch of other economies around the world. Even the US, which has been the one steady demand generator thus far, could get sucked into the vortex given the way the world’s economies are all so closely interconnected today.