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BBC Reports: Jewish Presence In Antwerps Diamond Trade Is Declining
A cultural revolution is now playing itself out among Hasidic Jews in the Antwerp Diamond trade.
While Antwerp is the world's largest diamond trading center selling 80% of the world's diamond rough and 50% of its polished diamonds every year, the increasing power and emergence of both China and India as major world players on the Diamond Trading stage, DeBeers entry into Retail Sales, and the introduction of beneficiation by African Diamond Mining countries to train their people to become skilled diamond cutters and thereby develop a strong middle class, the generations long, strong Jewish presence and employment in Antwerp's Diamond Trade has significantly decreased over the past several years to the point where the unemployment rate for this group now stands at 50%.
Times are a'changin.
The BBC Report with Video and pictures is here: Where have All The Antwerp Diamond Cutters Gone?
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