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Where Have All The Diamond Cutters Gone?
New York?
No.
Israel?
No.
Belgium?
No.
China, my friends.
China?
Yup, China!
China has become the manufacturing powerhouse of diamond industry during the past three to five years. There are more than 100 diamond-cutting factories in the mainland, each one employing 100 to 4,000 workers. The total number of diamond cutters in the country now stands at about 60,000.
Approximately 6.1 million carats of rough diamonds are processed in China every year. Guangdong province in the south and Shandong province in the east are the major locations for diamond polishing due to their low labor costs and skilled workers.
The import of rough diamonds and re-export of polished diamonds is tax free, another benefit.
Say this real fast: "Chinese Diamond Cutter".
It's gonna take some getting used to.
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