By Roman Grynberg, Letsema Mbayi
The worldwide Diamond undefined: Economics and improvement brings jointly a set of papers masking quite a few elements of the diamond together with economics, legislations, historical past, sociology and improvement throughout volumes.
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Additional resources for The Global Diamond Industry: Economics and Development Volume II
G. Buist, At Spes non fracta: Hope & Co, 1770–1815, The Hague: Nijhoff, 1974, pp. 383 ff. 90. Laird W. Bergad, Slavery and the demographic and economic history of Minas Gerais, Brazil, 1720–1888, Cambridge: Cambridge University Press, 1999, p. 5. 91. Herman Diederiks, Een stad in verval: Amsterdam omstreeks 1800, demograﬁ ﬁsch, economisch, ruimtelijk (A city in decline: Amsterdam around 1800, demographic, economic, spatial), Meppel: Krips Repro, 1982, p. 152; Heertje, Diamantbewerkers, p. 25. 92.
However, in the 1660s, when London became the most important rough-diamond-trading hub, finishers did not leave Amsterdam to settle in the British capital on a large scale. Seen from a global commodity chain perspective, before the EIC more or less fixed the rough trade in London, rough diamond dealers settled in the major international trading hubs, with the finishers following them. With establishment of the main rough trading centre in London, the situation seemed more static. For centuries London remained the trading centre for rough diamonds and Amsterdam the finishing centre: a division of functions appears to have been established.
98 Because of the large supply, prices declined and diamonds were ‘democratized’. The expanding American consumer market proved to be a major new outlet and the finishing industry boomed. 101 How can we explain this shift? Until 1920, both Antwerp and Amsterdam had to rely on De Beers for the supply of rough diamonds; 30 Karin Hofmeester Antwerp merchants, however, appeared to have held more capital than the Amsterdam merchants, which afforded them a better buying position. Rough diamonds discovered in the Belgian Congo began reaching Antwerp in the 1920s, rendering rough supply cheap and easy to obtain in the city.