China produces 95% of the world’s manmade diamonds. Lab-grown diamonds are now vital components in industrial machinery, cutting tools, and even in semiconductors and electronics.For decades, DeBeers has deftly manipulated the supply and pricing in the global diamond markets. But China’s booming production of manmade stones, including for jewelry, now has DeBeers struggling to maintain market positions. After historic discounts, secondary markets for even natural stones are trading at levels far below DeBeers prices.
