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Report on the topic "International Trade in Diamonds"

The global diamond industry is characterized by export orientation, high demand elasticity and a community-based business model. Such business models may compensate for such socio-economic issues as lack of education or access to finances, business failures and facilitate informal settlements of disputes. However, an absence of monitoring and assessing the mining and exploration process leads to social controversies and conflicts. Besides, the transnational existence of such communities as the Jews in Brooklyn or the Jains and the Patels in Antwerp ensures enormous significance of international cluster relations and networking. Nevertheless, the competitive advantage in the industry is changing over the past two decades. As a result of the greater global attention to rogue governance and corruption and the following decline in the monopolistic power and influence of cartels, the upstream value chain has subjected to many shifts.

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