Why is diamond industry expanding in China? in microeconomics and macroeconomics
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Answer:
As young consumers in China take a growing interest in cheaper, more accessible alternatives to mined gems, lab-grown diamonds are becoming more popular in China
Explanation:
china is a rich , developed and highly industrial country, they can do anything to increase GDP of their country
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Explanation:
The global diamond market size was valued at USD 87.31 billion in 2018 and is predicted to grow at a CAGR of 3.0% from 2019 to 2030. The growth of the industry can be mainly attributed to the rising demand from jewelry application especially in emerging economies in Asia Pacific like India and China.
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